Lawyers are intelligent, resourceful, and thrifty. So, when it's time to sell their firm, it's natural to wonder whether they can handle the process themselves. After all, homeowners sell their homes without brokers every day. How different can selling a law firm really be? ... Read More

I’ve got some good news and some bad news. First, the good news. Men in the United States aged 65 can expect to live 18.2 more years on average. Women aged 65 years can expect to live around 20.8 more years on average. The bad news is that some lawyers read that and somehow think that they can practice that long. ... Read More

Clients always want to know one thing when negotiating an insider sale: what's a fair price? The answer is not so simple. In fact, the answer depends on yet another question: fair based on what? ... Read More

What makes selling a law practice in California different from selling one elsewhere? Quite a bit, actually. California’s legal market operates on a different scale than most states. Competition is intense, operating costs are high, and buyer expectations are unique. What follows is a practical overview of what makes California’s legal market different and what that means for attorneys planning their exits. ... Read More

Purchasing another lawyer’s practice is fast becoming a popular and more common way to grow or diversify one’s law firm. There are three main reasons for this: ... Read More

You've decided it's time to sell your law practice. The next question almost no one can answer: Who's going to buy it? Unlike many other industries, the market for law firms remains immature and underdeveloped. There is no central marketplace where qualified buyers browse available practices. Most transactions occur privately through existing relationships, referrals, or discreet outreach. As a result, many buyers and sellers never find one another. ... Read More

A law firm's culture is rarely neatly packaged in a mission statement, but it's there for anyone who cares to look. Law firm sellers often wonder what will happen to that culture after they sell the practice. Will long-time employees retain their jobs and be paid similarly? Will clients continue to receive the same level of service? Will the relationships and standards that helped make the firm successful endure the transition? ... Read More

Over the past year, the internet lit up with articles and blog posts about private equity’s invasion of the legal profession. McDermott Will & Schulte, the large international law firm, confirmed it was exploring a restructuring that would let private equity hold a stake, and Quinn Emanuel’s founder said he was open to outside investment. ... Read More