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
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
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
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
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
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
This is the second in a two-part series addressing one of the most costly and destabilizing realities of a law firm – the seemingly perpetual movement of lawyers from one firm to the next.
The first post on the subject took a look at why and how to improve the lateral hiring process. Today we
I think the acquisition of consumers might be on the verge of being mapped. The battlefield is going to be retention and lifetime value.
Growth through acquisition — individuals, groups or full-blown mergers — has become a norm within the legal profession.
Doesn’t the record suggest it is time we ask whether the
Sometimes it is as simple as two lawyers acting on obvious synergies and a law firm is born. Once the firm is birthed, the days are heady ones as basic startup chores are mixed with the never-ending pursuit of clients, doing good work and building an enduring reputation. Coming up for air can almost seem
Tis the season, but holidays are not involved. Rather, market forces, activity and trends confirm that law firm merger is on the minds of law firms. While mergers once seemed to happen mostly around the start of the year, the complexity of the merger exercise means mergers can happen at any time. And even for
