By acolman@closersgroup.com
2013 - How Many Law Firms Will Survive?
Only one in eight firms have strategic plans, according to a recent ALM Intelligence survey and many don't have the skills and staff to implement them. This is a troubling if not alarming statistic for nearly three quarters of the country's law partners and management. Is it keeping them up at night? How many of those firms will survive the next five years?
Thursday, June 6, 2013
12 pm - 2 am Eastern Time
When negotiating a long-term lease, the landlord and the tenant should specifically agree upon the condition that the premises will be in at the time of delivery by the landlord to the tenant. Too often phrases such as "vanilla box," "warm vanilla box" and "as-is condition" are utilized by leasing representatives to describe generically the condition that the premises will be in at the time of delivery. However, the differences between what each party means by those terms can be dramatic. By specifically addressing the condition of the premises, landlords and tenants may avoid costly disputes once the lease has been executed and the landlord delivers the premises. This article addresses the terminology and the common pitfalls associated with the terms "vanilla box," "warm vanilla box" and "as-is condition."
If we were to analyze law firm mergers by plotting client satisfaction on one axis and partner satisfaction on the other, the resulting scatter diagram would reflect a surprising few combinations that were deemed satisfactory to all parties.
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