In “traditional” old-line law firms, it was typical for a lawyer to join a firm upon graduation from law school. These lawyers work hard as an associate for five to seven years. Then, in most cases, be admitted to equity partnership, staying until death or retirement. Today, many firms, even smaller firms…
Law firm mergers can be tricky. Large and small law firms consider mergers because of perceived benefits such as improved client service, economies of scale or entrance into a new market. Whatever the reason, many mergers fail when due diligence is not used to properly identify the reasons for…
Particularly in a tight financial environment, a firm has to know where its money is coming in and going out. It also “has to be nimble and on top of what’s going on,” because the supply, the demand, and the acceptable price of legal work are constantly changing, says BOB HENDERSON of…