There are two ways lateral partner recruiting can grow the revenues of a law firm. The first is through the acquisition of additional client relationships brought to the firm by the lateral partner. The second is the added work generated by the lateral partner serving more of the legal needs of the firm’s existing clientele.
Neither growth strategy is a sure bet. The first strategy, though, will benefit significantly from a comprehensive due diligence process. The second strategy relies on a well designed integration process, one that has broad internal support and commitment and is strategically focused.
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