Lawyers leaving a law practice have an economic interest in monetizing their career-long investment in building a client portfolio and a referral network. They have invested time, knowledge and care into relationships created to solve clients' problems, advance clients' interests and navigate clients' legal and regulatory responsibilities.
Valuation of a Law Firm and a Law Practice
Lawyers leaving a law practice have an economic interest in monetizing their career-long investment in building a client portfolio and a referral network. How each lawyer has accomplished this depends on his or her particular practice, market and style. But while the means may vary, the results are the same ' access to clients who have legal needs. And this is the value the acquirers wish to capture.
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James D. CottermanThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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