Walker Clark Worldview
commentary and insights for law firm leaders
At the Crossroads
Around the world, many first-generation law firms have reached a pivotal juncture. Their founders—now in their fifties or early sixties—are beginning to contemplate retirement and the future of the practices they built.
Without a well-informed and realistic plan, a successful legacy can quickly dissolve once the founder steps away.
Avoiding Buyer’s Remorse: Ask the right questions.
As we approach the end of another calendar year, there is an upsurge almost everywhere in the world among small law firms looking for possible merger or acquisition opportunities.
The short-term motivations and long-term objectives of these explorations vary, but there are several questions that any law firm receiving an overture from another firm or prospective lateral partner should ask first, before entering into serious negotiations.
Having solid, fact-based answers to these questions will help you to avoid wasting time and management attention, as well as possible disappointment, on overtures that look promising on the surface but lack the underlying foundations needed for success.
