Dhaka is the capital of Bangladesh and the principal city of Dhaka District. Dhaka is a Mega city and one of the major cities of the South Asia. Located on the banks of the Buriganga River, Dhaka, along with its metropolitan area, has a population of over 12 million, making it the largest city in Bangladesh.[1] With its colourful history, Dhaka is known as the 'City of Mosques' and for its famous fine Muslin cloth which has a great ethnic value. Under Mughal rule in the 17th century, the city was also known as Jahangir Nagar, and was both a provincial capital and a centre of the world-wide muslin trade. The modern city, however, was developed chiefly under British rule in the 19th century, and soon became the second-largest city in Bengal after Calcutta (presently Kolkata). With the partition of India in 1947, Dhaka became the administrative capital of East Pakistan, and later, in 1972, the capital of an independent Bangladesh. During the intervening period, the city witnessed widespread turmoil; this included many impositions of martial law, the declaration of Bangladesh's independence, military suppression, devastation during war, and natural calamities. Modern Dhaka is the centre of political, cultural and economic life in Bangladesh. Its urban infrastructure is the most developed in the country, it is nonetheless a fighting metropolitan city with challenges such as pollution, congestion, and lack of adequate services due to the rising population. In recent decades, Dhaka has seen modernisation of transport, communications and public works. The city is attracting large foreign investments and greater volumes of commerce and trade. It is also experiencing an increasing influx of people from across the nation. To fight rising traffic congestion and population rise in the capital city, the national government has implemented a policy for rapid urbanisation of surrounding areas and beyond by recent introduction of ten year tax on income holiday for new construction of all types of facilities and buildings outside Dhaka.

Law Firm

A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise client’s individuals or corporations about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other matters in which legal advice and other assistance are sought.

In many countries, including the United States and the United Kingdom, there is a rule that only lawyers may have an ownership interest in, or be managers of, a law firm. Thus, law firms cannot quickly raise capital through initial public offerings on the stock market, like most corporations. In the United States this rule is promulgated by the American Bar Association and is adhered to in all U.S. jurisdictions, except the District of Columbia. The U.K. has a similar rule, but in recent years law firms have been able to take on a limited number of non-lawyer partners.

The rule was created in order to prevent conflicts of interest. In the adversarial system of justice, a lawyer has a duty to be a zealous and loyal advocate on behalf of the client, and also has a duty to not bill the client unreasonably. Also, as an officer of the court, a lawyer has a duty to be honest and to not file frivolous cases or raise frivolous defenses. A lawyer working as a shareholder-employee of a publicly traded law firm would be strongly tempted to evaluate decisions in terms of their effect on the stock price and the shareholders, which would directly conflict with the lawyer's duties to the client and to the courts.

Law firms are typically organized around partners, who are joint owners and business directors of the legal operation; associates, who are employees of the firm with the prospect of becoming partners; and a variety of staff employees, providing paralegal, clerical, and other support services. An associate may have to wait as long as 9 years before the decision is made as to whether the associate "makes partner." Many law firms have an "up or out policy" pioneered around 1900 by partner Paul Cravath of Cravath, Swaine & Moore: associates who do not make partner are required to resign and join another firm, go it alone as a solo practitioner, go to work in-house in a corporate legal department, or change professions burnout rates are very high in law.

Making partner is very prestigious at large or midsized firms, due to the competition that naturally results from higher associate-to-partner ratios. Such firms may take out advertisements in legal newspapers to announce who has made partner. Traditionally, partners shared directly in the profits of the firm, after paying salaried employees, the landlord, and the usual costs of furniture, office supplies, and books for the law library or a database subscription. Partners in a limited liability partnership can largely operate autonomously with regard to cultivating new business and servicing existing clients within their book of business. However, many large law firms have moved to a two-tiered partnership model, with equity and non-equity partners. Equity partners are considered to have ownership stakes in the firm, and share in the profits and losses of the firm. Non-equity partners are generally paid a fixed salary albeit much higher than associates, and they are often granted certain limited voting rights with respect to firm operations. The oldest continuing partnership in the United States is that of Cadwalader, Wickersham & Taft, founded in 1792 in New York City.