A well-planned merger can reap many benefits for the combining firms if the decision to merge is based on legitimate business reasons. Whether it’s two solo practices or the world’s largest law firms, the consolidation of two legal practices must be treated as the joining of two businesses, no different from corporate mergers. And that can mean a complex and confusing process-until now.
This revised and updated Third Edition of Anatomy of a Law Firm Merger by Hildebrandt International provides you and your firm – no matter what size or type of practice – with the expert advice on what you need to consider when contemplating a merger, and how to successfully make it happen. It features a completely updated financial perspective for today’s changing financial picture, plus a revised discussion of the economic balance sheet – to help quantify the value each firm brings to the merger. In addition, there is all-new material on integrating hard assets into the merger, and newly updated technology information.
With an emphasis on achieving your strategic business goals, this step-by-step guide covers:
- Determining if a merger will be beneficial
- Using an outside service to locate potential candidates
- Naming the firm, conflicts of interest in practice areas, and partner compensation
- Defining each firm’s culture and assessing the ability to integrate them
- Pricing and billing procedures, and what to do when they differ
- Developing pro forma income and cash flow projections before merging
- Determining what to include in your merger notebook or prospectus
- Ensuring quality control and workflow
- Standardizing recruiting and training practices
- Notifying current clients of the merger
- Publicizing and marketing the new firm
- Guaranteeing uninterrupted client service during the integration process
The practicePRO Lending Library is a free resource for Ontario lawyers of more than 100 books on a wide variety of law practice management related topics. You can see a full listing of our books here. You may borrow a book in person or via e-mail.
The practicePRO Library is located in our office at 250 Yonge Street, Suite 3101 in Toronto and can be visited during our regular business hours (Mon to Fri, 8:30 to 5:00). We invite you to come by anytime (please email in advance)to peruse our selection. All titles in the practicePRO Lending Library can be shipped to Ontario lawyers at our expense, and returned at yours after three weeks.