When Is a Practice a Pig in a Poke?


What is different between selling your law practice today compared to a few years ago? The biggest differentiator, with many lawyers and their practices, is fear. The seller's fear is to sell out now, before they are incapacitated by age or ill health, and before the economy takes another big hit and buyers disappear. The buyer's fear, by contrast, is of buying "a pig in a poke," with the danger being that past clients may not stay with the new lawyer.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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