With relative growth flat in many areas of the law, a number of firms have eschewed organic growth and have instead focused on expanding by acquiring lateral hires with books of business. While more than one firm has grown by way of this strategy, successfully integrating a seasoned attorney who has developed his own manner of doing things into your own firm can be a challenge.
Bringing on laterals is a business development step that offers a way to quickly attach more business to the firm. However, when it comes to making the match work for both the firm and the attorney, the vital roles that marketing and business development play are very often overlooked.
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