Something interesting is happening in the world of law firm merger matchmaking and due diligence. Specifically, the order of importance for the key components of the vitally important compelling business case is shifting for...more
The law firm world is facing serious consolidation pressures right now. Public numbers on “closed” deals would suggest to any uninformed reader that all the hubbub is about really large firms acquiring really small firms,...more
I recently wrote about the outcomes of our most recent 30 law firm merger & acquisition projects within the context of a clear uptick in activity and our prediction of increased activity over the next few years. Within that...more
Before the calendar slips too far into the new year, I want to share five important emerging trends or steps for law firm leaders to consider in 2020, each of which will have significant short and long-term implications for...more
There may not be another industry that self-commoditizes like legal, primarily because so many Partners choose to compete solely on price. While price is inevitably a component of all negotiations with clients, value from...more
In the course of our Partner Compensation System work, we have seen many law firms that allow origination credits to be “shared” for purposes of both financial reporting and compensation-setting. Of course, the goal is to...more
Talk of transitions and succession planning is something we are all familiar with right now. The demographics within many law firms make these areas of focus critical for future success. While most of these conversations...more
In my last blog I posed a simple question – is your firm’s culture putting your firm at risk? My thoughts at that time were built entirely from the law firm perspective and were focused on internal issues and lawyers’...more
While I acknowledge the vital role that culture plays with respect to defining each law firm’s working environment, creating expected behaviors, and establishing a “glue” among the lawyers, I am increasingly seeing law firms...more
At about this time last year, I wrote a blog about 10 Projects That Can Produce Big Results in 2016. My goal was to get each reader’s firm to focus on one signature project from a “menu” of options that would have a positive...more
In July, I wrote a blog entitled Who Will Be the Owners of Law Firms in the Future. My goal at that time was to start to share my prognostications on where the business of law is going and what the law firm of the future will...more
We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more
Over the past few months, we’ve dedicated much of our blog space to the significant challenges associated with succession planning in law firms. Variations of this topic come up in most current conversations with clients and...more
Last month I wrote about the succession planning challenges that many firms are, or will soon face. Based on what we’re hearing and seeing, there are a lot of law firms with a lot of client relationships and brainpower at...more
There is a well-deserved and surprising focus on succession planning within many law firms right now. The “well deserved” focus is justified because these firms are trying to bridge/balance the immediate needs and...more