The owners of law firms may consider merger options as part of their succession planning.
While periodically reviewing merger options can be an effective part of long-range strategic plans, it’s important that firms do not rely on mergers as a life raft. Instead, mergers should incorporate a well-thought business strategy and create greater client value.
The ISBA’s Merging Law Firms Checklist helps attorneys plan for a successful merger, and includes formation, compensation, accounting, and billing considerations.
The checklist is one of many member resources available at Practice HQ, the ISBA’s one-stop microsite for practice management and technology information. Organized by the life cycle of a law practice, Practice HQ can help you start a firm, build, manage, protect, or wind down. Practice HQ content is members-only; you must log in to the ISBA website for full access.