When Your Firm Gets Bought Out, Remember That You Are An Asset
When someone buys a financial services firm, accounting business or law practice, they get people. People are the assets. Give the acquiring firm a chance to make this worthwhile for everyone concerned.
September 18, 2024 at 11:50 AM
4 minute read
When you are in the professional service business, everyone wants to make money from your efforts. When someone buys a mining company, they get mines. When they buy an electric company, they get power stations. When they buy a financial services firm, accounting business or law practice, they get people. People are the assets and those assets have feet. What do you do when your firm is suddenly acquired?
You might find yourself in one of two roles. You are either a revenue producer or you are overhead. Years ago, in the financial services industry, I came across the expression, "Home Office Guy." This abbreviated as HOG. You get the point.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllStep 1 for Successful Negotiators: Believe in Yourself
Deluge of Trump-Leery Government Lawyers Join Job Market, Setting Up Free-for-All for Law Firm, In-House Openings
4 minute readBallooning Workloads, Dearth of Advancement Opportunities Prime In-House Attorneys to Pull Exit Hatch
Trending Stories
- 1'Ridiculously Busy': Several Law Firms Position Themselves as Go-To Experts on Trump’s Executive Orders
- 2States Reach New $7.4B Opioid Deal With Purdue After SCOTUS Ruling
- 3$975,000 Settlement Reached After Fall on Sidewalk
- 4'Where Were the Lawyers?' Judge Blocks Trump's Birthright Citizenship Order
- 5Big Law Sidelined as Asian IPOs in New York Are Dominated by Small Cap Listings
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250