As the calendar year comes to a close, there is a lot to do at most law firms. Activities like collecting bills, distributing profits and casting next year’s budget can occupy many a leadership team. The tasks at hand can be time consuming and all engrossing. Given the importance of these short-term issues, thinking about

“A discord of personalities” sometimes describes the genesis for marital divorce.  It also can be an apt way to explain law firm break-ups when partners decide to go their separate ways.  Although law firm break-ups happen regularly, the low level of publicity surrounding most can be due to partners acting rationally even though they can’t

As the calendar year comes to a close, there is a lot to do at most law firms. Activities like collecting bills, distributing profits and casting next year’s budget can occupy many a leadership team. The tasks at hand can be time consuming and all engrossing. Given the importance of these short-term issues, thinking about

Succession planning is an issue that many law firm managers worry about. They ask whether their firm has done enough planning, whether the pool of successors is deep and whether the firm will be stable when transition to new leadership happens. Because succession planning is so important to many of today’s law firm leaders, we’ve

As reviewed in Part One last week, the example of the Morgan Lewis/Bingham McCutchen mass lateral transaction may serve to stimulate the pursuit of distressed firms by healthy firms. Although distressed law firm transactions are nothing new, the model of that deal plus two new legal developments may foster greater distressed law firm activity.

The

Times of transition are strenuous, but I love them. They are an opportunity to purge, rethink priorities, and be intentional about new habits. We can make our new normal any way we want. – Kristin Armstrong

The recent closing of the Toledo, Ohio law firm of Cooper and Kowalski provides another reminder of the

Closing a law firm is a formidable task. The existing management team, prepared for running a going concern, is often unprepared for the various challenges that arise as the firm is wound down. Even though it is advisable for a closing firm to obtain outside assistance, a small but dedicated group from the firm must

Following up on my recent post on the matter, I had the opportunity to discuss the lessons other law firms can learn from the Dewey LeBoeuf collapse and indictments with Colin O’Keefe of LXBN. In the video interview (click here), I explain what law firms can take away from the situation and