If your firm is not considering or is not the object of a merger or acquisition, chances are it may be soon. Law firm mergers are on the rise and have become increasingly common in the legal industry. Although mergers through the third quarter of this year have lagged behind those in that same period for 2015, mergers in the final quarter could push the total for 2016 beyond last year’s overall record of 91.
Law firm combinations are often approved (or rejected) by participants for various reasons. Whether a merger is appropriate for a law firm depends on many factors, including the firm’s long-term strategic goals and the economic climate. There are, of course, advantages and disadvantages to consider.
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