Law firm merger is popular because, among other things, it can help a firm grab greater market share, enter new markets, bolster capabilities, or address succession challenges. These results or outcomes can compel a firm to pursue merger enthusiastically. Unfortunately, mergers don’t always guaranty success and in some cases can undermine a firm’s stability. To
Five Thoughts That Shouldn’t Drive Your Law Firm Merger
Law firm mergers can accomplish a great deal, so it is no wonder they are popular. The number of mergers consummated each year is steady if not growing. Strategically designed and executed law firm mergers can boost combined firms to places otherwise difficult to achieve in the time frames desired.
Even though many mergers make
Being a Law Firm Merger Target-Five Inquiries First Time Players Need to Make
Some law firms seem to be full-time participants in law firm merger activity. As new markets are entered and competitors gobbled up, the voracious law firms bring to their transactions a wealth of experience their counterparts often lack. If your law firm is thinking about merger for the first time, will a lack of experience
The Non-negotiable Must-Haves in Law Firm Merger
Two. That’s the number of essential conditions that any law firm merger participant should never eschew. No doubt there are other vital elements to achieving merger success, but two are so vital that their absence can doom the law firm merger of your dreams. These decisive factors, the ones merger parties must insist upon for
Is a Law Firm Merger on the Horizon? – Four Phases Every Law Firm Experiences
As every new year begins, the idea of law firm merger grabs the attention of more than a few law firm leaders. Although the pandemic impacted the number of law firm mergers closed in 2020, all indications for 2021 suggests a strong merger season. It is no wonder as a well-constructed merger is an effective
Adding Talent During Covid-Two Important Requirements
In the turmoil caused by Covid-19, many law firms have had to adjust to unforeseen circumstances. News stories tell the sad tale of law firms being adversely impacted. Some firms have closed, and unfortunately others will follow.
With one firm’s demise comes opportunity for others. Clearly, personnel leaving the firm in wind-down must find homes
Pause After Responding to the Pandemic? Two Assessments All Law Firms Should Consider
The pandemic has caused an unprecedented change to the practice of law for many law firms. Since March, the delivery of superior client service has required a new way of thinking and a little bit of scrambling. Yet after a couple of months living in the Covid-19 world, some law firms feel a new normal
Dealing with the Bad Law Firm Merger–Annulment, Divorce or Staying Together for the Kids?
The typical press release announcing a law firm merger extolls the excitement, the opportunity to have one plus one equal three, and the great fit of culture, practices and people. It’s perfect until it is not. In fact, by some measures more than half of all law firm mergers fail. When the realization sets in that your law firm merger is a bad one and not the combination of your dreams, what can you do?
Besides whistling past the graveyard, you’ve got to do something. And while a solution stimulated by panic is not recommended, prompt action is advisable. As action plan options go, the following three options generally are presented and often are considered:Continue Reading Dealing with the Bad Law Firm Merger–Annulment, Divorce or Staying Together for the Kids?
Four Important Phases in Achieving Law Firm Merger Success
Law firm growth gets a lot of attention. Among the various approaches to law firm growth is the tactic of merger. Almost weekly we are treated to another announcement about two law firms fulfilling their desire to grow by combining. And although law firm mergers have been part of the landscape for years, the incidence
Merger Madness-Five Reasons Your Merger Can Go Wrong
It almost seems like a broken record to hear about the popularity of law firm mergers. Legal industry publications report on the latest mergers and hot market trends. Indeed, just recently The American Lawyerreviewed the merger opportunities that abound for mid-size firms in its Mid-size Firm Leaders Awash in Big Law Merger Offers.