Edwin Reeser – Edwin B. Reeser, A Professional Law Corporation

Year In Review - Law Firm Mergers in 2015

Mergers were not the big deal in 2015. It was the new boutiques being formed, a trend to watch closely in 2016…more

Killer Calculations: Dewey mean it? Metrics can tell the tale of a firm’s fate.

While the Dewey proceeding ended in mistrial and several not-guilty verdicts, there are plenty of lessons lawyers and law firms can learn from this financially complex case. Perhaps the most important one is that lawyers must be…more

Dewey Learn Anything?

Dewey learn anything? By Edwin B. Reeser July 27, 2015 (Reprinted with permission of the Daily Journal Corp, Copyright 2015) The take away from the criminal case against former managers of Dewey & LeBoeuf LLP — the once…more

Beware the Law Firm Partner Departure Tax

The method for truing up the distributions made to a withdrawing partner and the obligation to repay over-distributions create a narrow window for partners to minimize “departure tax” — that is, the financial penalty applied to…more

Why Firms Go Down the Money Hole

The logic behind the compression in law firm partner membership for the past five years was simple: after the financial performance trauma of 2008, the confidence of partners in the viability of many firms needed reinforcement…more

Origins of the Modern Law Firm

If you unlock the cage, the beast often comes out. The fundamental structure, operation and character of governance in law firms has transformed over the past forty-five years. Let’s look at nine important features that…more

Partner Development, Compensation and Soylent Green

Partner Development, Compensation and Soylent Green At the beginning of one’s career as a lawyer, you set upon a course of being a “good soldier”, doing what the system asks of you in the profession’s self described…more

Free Agency and Lateral Partner Moves

Lateral partner moves in the legal industry, especially the ones involving prestige practices, have often been compared to the free agency feature in professional sports. Many of us who wear suits and ties to work and spend…more

Why Strong Law Firms Prefer to Merge Rather Than Cherry Pick

The obvious question that first occurs when a strong firm engages in a discussion with a weak firm about a merger is, “why a merger and not a cherry pick?” The preferred choice usually is to cherry pick. The issue of successor…more

Know a Boutique When You See One

There are two basic ways these boutique firms come about. The first is they are built from the ground up by a small number of founding partners over a term of years. This typically was the way boutiques evolved. The…more

Mergers Are Tougher Than Some Think

Managing partner expectations regarding the amount and timing for increased profits from combining law firm operations and office space is critical to any merger, yet it is typically handled poorly. There are no magic solutions…more

Law Firm Combinations - The Plights of Targets and Acquirers

By Edwin B. Reeser With the recent announcement of discussions between Locke Lord LLP and Edwards Wildman Palmer LLP, an overview of law firm combinations may be warranted. The odds are always extremely low that a deal to…more

The Question of Partner Compensation Guarantees

Partner compensation guarantees can be an appropriate tool in lateral hiring situations, both for the benefit of the firm and the individual partner. However, the number of guarantees, their duration, and the situations in…more

What Does Your Firm's 'Coverage Ratio' Really Mean?

By Edwin B. Reeser Coverage ratios are applied to businesses to forecast current and future solvency, a tool for banks and bondholders interested in the security for repayment of debt. But law firms don’t typically have long…more

Law Firm Profitability is About How You Get There, Not Where You Get

Law Firm Profitability is About How You Get There, Not Where You Get. By Edwin B. Reeser Management effectiveness is often evaluated by profitability. There are several measures of profit, some are effective for performance…more
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