This post is inspired by a recent interaction with a former colleague that has done very well with her career. 15 years ago, she was an entry level law firm HR professional that was smart, had lots of energy and a passion for excellent work. She has advanced through a variety of positions in the
Five Warning Signs That Your Law Firm is Headed for Uncertain Times
As business organizations go, law firms are different because they can face greater stability challenges. Sure, law firms with iconic names seem to rock along year after year. But for every bedrock firm there are others that struggle to survive. And even some of the firms regarded for their steady state are like the proverbial
Merging Your Small Law Firm into a Bigger One-Five Additional Things Smart Firms Think About
Law firm mergers happen-a lot. While the mega mergers get the publicity, many mergers stay under the radar because they involve smaller firms being absorbed by larger firms. Whether for reasons of market dynamics, succession, or battling for growth, some smaller firms simply conclude that life will be better as part of a bigger shop.
Avoiding Post Law Firm Merger Culture Wars-Six Things to Consider Before Getting Married
Law firm mergers have been in the news with combinations being announced seemingly every week. So far in 2018, the many mergers closed have drawn the attention of the media and law firm leaders alike. The rationale for any of the announced mergers depends on the specific transaction and the firms involved. Whatever the reason,
What Does Partner Mean in Your Law Firm?
If you change partners every time it gets tough or you get a little dissatisfied, then I don’t think you get the richness that’s available in a long-term relationship. Jeff Bridges
Another year and more turmoil in the legal profession!
Although for some law firms the economy has led to marginally improved performance, for many
Getting a Bigger Piece of the Client Pie-Positioning Your Firm for More than a Sliver
To control costs and improve legal service, more client legal work has been brought in-house in recent years. As clients have achieved those twin goals, the proximity of readily available legal services to business decision makers has spawned greater institutional reliance on the captive legal departments. The increased access to legal services for company business
Achieving Stability and Longevity for Your Law Firm-Five Fundamentals
Almost daily, lawyers come together and open new law firms. High expectations accompany such births. With owners committing to work hard, promising to exercise given and acquired skills, and counting on a little (but not too much) luck, the newly created institution teases with the prospect of success.
The positive vibes at inception may be
Merger and Operating Cost
If your law firm is considering a merger, it is a perfect time to evaluate the operating cost associated with the combined organizations.
Mergers are risky transactions. Having operating costs in line will decrease pressure on the new entity.
Although all costs should be evaluated, we will focus on three areas in this post. Two
Do More Than 83% of Law Firm Mergers Fail?
This Forbes article references a KPMG study which indicated that 83% of mergers fail to yield a favorable return to stockholders while a separate A. T. Kearney study determined that mergers overall yield a negative return to owners. The KPMG study indicated that nearly 70% of business combinations are negative to neutral in terms of
Four Important Elements to Getting Law Firm Merger Right
Already 2018 has proven to be a time for law firm merger. Since the beginning of the year we have been treated to a constant series of announcements about law firms combining. And although law firm mergers have been part of the landscape for years, the increase in law firm mergers shows its growing popularity