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Firm fracture or break-up? Opportunity awaits!

By Thomas Berman, Principal, Berman & Associates

29 March 2012

By Thomas Berman, Principal, Berman & Associates

Although a firm break-up is generally considered to be a bad occurrence, it may actually provide some great opportunities for change. This can include ameliorating compensation formulas, weeding out unproductive/unprofitable practice areas (and lawyers) and rethinking the actual practice management of the new entity.

It is very difficult – if not virtually impossible – for a law firm with a sizeable population to make fundamental alterations to the way the practice is actually managed. However, a fracture or break-up provides for a substantial lift to the idea of change which, as we are all aware, is never an easy thing to absorb.

Consequently, the partners in the new entity may enjoy a much better chance of altering some basic practice paradigms in the new fi...

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