Law firm mergers have continued this year and are approaching last year’s record. For law firms, any number of motivations can lead to merger, but the common denominator is the perception that merger serves the greater good. Despite the onslaught of mergers, a vast number of mergers are less than perfect. And while a
Law Firm Alert-Get Your House in Order
In a recent interview about his advisory work on behalf of Patton Boggs (now a part of Squire Patton Boggs), Zolfo Cooper’s Joff Mitchell recommended that law firms “get your house[s] in order.” While not all law firms today face the challenge that Patton Boggs faced and which Mr. Mitchell helped resolve, there
Unwanted Law Firm Departures While Negotiating a Merger-A Test of Leadership
Law firm mergers seemingly are announced weekly and continue a trend as to which most observers are accustomed. Just last week Locke Lord and Edwards Wildman Palmer jointly announced the signing of a letter of intent to combine their two firms. Not all law firm mergers are marriages of equals, or instances when the strategic
Law Firms and Big Ten Football-Leadership and Disruption
The Big Ten had a tough go of it last weekend in college football. Both Michigan and Michigan State failed to step up to challenges against non-Big Ten teams. In the Horseshoe, Ohio State lost to Virginia Tech in a contest pitting the Big Ten against the Atlantic Coast Conference. The weekend’s results again raise
Law Firm Leadership and Merger-Finding the Right Fit
Although this year’s transactions generally are smaller deals, the robust law firm merger market of 2013 has been continued into 2014. Mergers grab headlines, create excitement and almost always provide the merged firm a little boost from the afterglow of positive publicity. Unfortunately, any positive vibe from a merger will not last forever. And more
The Law Firm As A Business-Five Thoughts
For some time, the idea that law firms should be run like businesses has been accepted. While lawyers and law firms still benefit from the ideals that underpin the place our legal system has in our society, keeping a law firm’s doors open today requires a proper dose of business principles.
In attempting to apply
Law Firm Industry Lists-What Are They Good For?
Lawyers love lists, especially checklists. They love having a specified list of elements that need to be proven or followed. Lists fit into the way they were trained in law school. It is likely that many of today’s lawyers were list driven even before going to law school.
It is no wonder that lists that
Law Firm Transition-Timing is Critical
Legal industry veteran Eric Fletcher takes the view that law firms perpetually are in transition. Certainly, in the changing legal environment that has existed since 2008, transition among law firms is common. Law firms in transition can face any number of business altering decisions, whether they be fundamental adjustments to its business strategy, considering merger,
Merging with Goliath-Key Considerations for the Smaller Law Firm
News about the search for a merger partner by Bingham McCutcheon has been in the media the past few weeks. If the search leads Bingham to the altar, its transaction likely will be among parties equally sophisticated and aware of the intricacies of law firm merger. After all, Bingham owes its current size to a
Law Firm Succession Planning – Five Common Mistakes
The issue of succession planning at law firms has received the attention of commentators and I have written about it as well. Demographically, the need among law firms to address succession is mounting as the boomer generation ages. Because the number of firms facing succession issues increase with each passing year, planning at firms