By Andrew E. Jillson on Posted in Law Firm Leadership,Law Firm Liquidation,Law Firm Transition“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… Continue Reading
By Andrew E. Jillson on Posted in Law Firm Crisis,Law Firm Repositioning/Turnaround/Restructuring,Law Firm Transition(As many law firms see their fiscal year close simultaneously with the calendar year-end, the risk of partner departures rise. The lessons identified in the March 2015 blog Law Firm Departures: A Likely Source of Disputes have not lost their relevance as 2016 closes and 2017 begins. That blog is reprinted here in its entirely) Most law firms… Continue Reading
By Roger Hayse on Posted in Law Firm Crisis,Law Firm Leadership,Law Firm Repositioning/Turnaround/RestructuringBold headlines tend to focus on the spectacular failures. But consequential transition — even crisis — are equally traumatic for the small to medium sized law firm. Given the fact that fewer partners must carry the load, the impact across the smaller firm may be even more intensely felt. If you are part of the… Continue Reading
By Roger Hayse on Posted in Law Firm Crisis,Law Firm Leadership,Law Firm Transition One of, if not the key responsibility of a law firm leader is ensuring that the viability of the firm is not threatened. No doubt, one of the primary threats to law firms today is excessive debt. Clearly it is a rare business that functions without incorporating some form(s) of debt as part of an… Continue Reading
By Andrew E. Jillson on Posted in Law Firm Crisis,Law Firm Leadership,Law Firm TransitionMost 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… Continue Reading
By Andrew E. Jillson on Posted in Law Firm Growth,Law Firm Leadership,Law Firm Succession,Law Firm TransitionLaw firms planning for succession cannot rest easy even when the “next-in-line” process is settled or the next leader selected. No doubt thinking about these things is vitally important for a law firm hoping to weather transition. But it is just part of the task of succession planning. One area of succession planning given short… Continue Reading