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Your Future: Is There A Merger There? Are You Going To Follow The Lemmings Or Set Your Own Course?
A recent article in the National Law Journal piqued my attention. It hit on a point that many middle market firms must consider too often. The article in the Jan. 10, 2005 issue is titled “Mergers? Not Here Thanks.” Many firms not listed as mega-firms are asking the same questions ' should we take an offer to merge with a larger firm? Here are some questions every partner and firm should ask before considering combining with any other firm.
What typically raises the question of possibly merging from inside the firm? Partners see larger firms encroaching on their clients or the firm loses out on new work to a larger firm. The big lease comes up for signature and there doesn't seem to be anything to hold the firm together other than money. A great team player and profitable lawyer leaves for a larger firm. The brightest and best lawyers are beginning to ask how their career will be advanced with the current client mix of the firm. Partners are beginning to ask questions about leadership and the direction of the firm.
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