Mergers among law firms are continuing to occur at a high rate. And more firms than those completing mergers are engaged in exploratory discussions to determine if a merger makes strategic and business sense. Periodically assessing the firm’s competitive position and strategic priorities can help to assess merger inquiries from the perspective of what is best for the firm.
Unquestionably there are successful law firm mergers, some hugely so – perhaps most notably the strategically sound international ones that have created the grouping of highly profitable leading global firms that are increasingly winning a larger share of the highest value work.
The following Insight captures the thinking of Fairfax consultants Lisa Smith and Kristin Stark during a panel discussion about partner compensation in the context of merger discussions.
The legal industry is going through an extended period of growth and consolidation.
2012 was a buoyant year for law firm mergers. The level of activity…