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Accounting and Financial Planning for Law FirmsKickerFeaturesTopicsLaw Firm ManagementSectionsNewsLJN Newsletters

Ancillary Businesses Losing Appeal

By Lynne Marek
November 30, 2007

Law firms once dreamed of owning separate businesses to bring in new streams of revenue, and while some achieved that goal, the industry is now largely backing away from a strategy that provided little economic benefit.

While some firms still own the stand-alone affiliates that mainly came into being in the 1980s and 1990s, many are selling the entities, and few new ones have popped up in recent years.

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