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Law Firm Mergers: Lessons from Successful Strategic Combinations

Law Firm Mergers: Lessons from Successful Strategic Combinations

Author: Kent M Zimmermann; John E Morris
Publisher: Globe Law and Business
ISBN: 9781787428454
Published In: May 2022
Format: Paperback , 104 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 1,235.00

HKD 1,197.95 Save HKD 37.05 (3%)

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Description
Contents

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Mergers and acquisitions of law firms of all sizes have become increasingly common as competition for talent and business intensifies and leading firms dominate the market in size and profitability. Lawyers and law firm leaders contemplating the future of their firms need to understand the changing dynamics of the market, and the ways in which mergers and other combinations may or may not help them fulfil their aspirations. Law Firm Mergers offers both law firm leaders and all partners a way to approach the issues, highlighting the best practices gleaned from successful combinations.

Beginning with an overview of the forces driving consolidation, it discusses how to formulate and get buy-in for a strategy and how to view a merger as a potential vehicle to accelerate progress. It looks at the advantages and disadvantages of combining with other firms, and offers practical insights about the process – from the best ways to identify and evaluate potential merger candidates, to how to approach those firms, to navigating the negotiations, and common deal terms that can bridge differences over crucial factors such as compensation, capital and governance. Beyond the financial and strategic challenges faced by firms evaluating a merger, this title also delves into the cultural and human issues that can make or break a merger, from the best way to handle sticking points in negotiations to the ways in which firm leaders can muster support internally and head off opposition from their own partners.

Full of practical tips and laced with candid, first-hand insights from leaders who have successfully guided their firms through mergers, this Special Report will be the essential guide for a successful and prosperous law firm merger.

I. Understanding the flywheel effect

II. Designing a strategy around strengths

III. The special perspective of the smaller firm

IV. Missing the window, or not

V. Taking the driver's seat

VI. Drawing up the list

VII. The approach

VIII.The second meeting and beyond

IX. Getting partners' approval

X. Making the deal a success