Ever wonder what your law firm is worth? Here’s a shocker: Nothing, zero, zilch, nada.
While law firms around the world are scrambling for cash and the folks across the pond are counting money they will never receive under Tesco rules, as some foolishly believe that nonlawyer private equity investors are lining up to invest in law firms and make these partners even richer than Croesus, the truth is that it’s not happening. Commercial law firms, with their current business models simply have no value that can be realized.
It’s time to think out of the box and develop new business models.
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