A headline from last week announced the law firm merger of Dykema with Texas’ Cox Smith. Although Michigan based Dykema already had a foothold in Texas, its merger with well-regarded Cox Smith represents a significant commitment by Dykema to its Texas strategy. The Dykema/Cox Smith combination also is further evidence that law firm mergers
There is a Lot More to Law Firm Succession Planning Than Just Planning
A recent ABA Journal article reported on the demise of a successful law firm that had been in business for 60 years. The story about Harding & Shultz of Lincoln, Nebraska noted comments from one of the senior partners whose departure from the firm allegedly contributed to its demise. Seems that the senior partner, still
Establishing Standards For Growth – A Key to Building a Better Law Firm
The number one factor in determining the day-to-day joy in one’s work life is the culture of the organization of which you are a part.
Savvy law firm leaders know this; and they apply serious standards to increase the probability that everyone that becomes part of the organization makes a positive contribution
Law Firm Departures: A Likely Source of Disputes
Most law firms approach their practices optimistically-with a kind of “glass is half-full” outlook. Getting business, building client relationships and creating a brand typically are a firm’s focus rather than thinking about failure or disaster. That is especially so when law firms form. Future developments like mass departures or dissolution usually do not enter into
Succession Planning at the Smaller Law Firm-Getting it Done
It is no wonder why a lot is written about law firm succession planning. Transferring a law firm onto the next generation so the institution endures is the ideal for most but unattainable for many. Sue Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation presents the issue clearly and
Law Firm Restructuring for Long Term Health: Yesterday’s Success Is No Guarantee For Tomorrow
The century plus old quote “success begets success” couldn’t be further from the truth. Today success only buys you the opportunity to survive to compete tomorrow.
Lest you think otherwise, the legal profession is no exception. The intensity of competition in our industry increases daily. The marketplace is littered with once highly successful law
Succession Planning at the Smaller Law Firm-A Bigger Challenge
In a recent article in The National Law Review about law firm succession planning, Sue Remley offered some great analysis. Ms. Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation makes the important point that succession planning at law firms is vitally important and should not be ignored. She goes on
Law Firm in Crisis-Five Things to Know and Remember
Law firm crisis can pop up at anytime during the year, but if it had a “season” it would be early on in the calendar. As I wrote in Like Divorce, Law Firm Crisis is More Likely as the New Year Starts
, the beginning of each year is when key lawyers cut and run,
The Law Firm Sale and Succession Planning
If you practice law, there is one eventuality that should be added to that familiar duo of Death and Taxes. No one talks much about it, but it warrants the same attention to detail. The subject? The end of your practice.
As is the case with its two more familiar rivals for attention, ignoring it
Like Divorce, Law Firm Crisis is More Likely as the New Year Starts
In his January Divorce Rush Dates Back to the Middle Ages, Frederik Pederson examines the annual spike in English divorces every January and traces the phenomenon back to the Middle Ages. His research into the records of medieval church courts is interesting and supports his thesis. Mr. Pederson’s article backs the view that whatever