With several high-profile law firm mergers on the horizon, legal professionals face a critical decision: to stay or to move on. In 2023, widespread consolidation was observed as numerous Am Law 100 firms – many keen on enhancing their competitive edge and geographic reach – absorbed smaller firms aspiring for scale. Among these, were over two dozen mergers, including the Orrick and Buckley partnership, Clyde & Co.’s venture with Boston firm Hermes Netburn, and Eversheds Sutherland’s recent collaboration with King & Wood Mallesons. Numerous smaller firms have also expanded their reach.
For partners confronting potential mergers, early consideration of the deal’s personal impact is vital. Mergers hold significant implications for one’s practice, team, career progression, and personal life, offering potentially new opportunities and challenges. Before signing a lock-up agreement – which usually binds partners for several years post-merger and, in some cases even longer – it is recommended that partners contemplate eight crucial questions. The first one to ponder over is: “Will I run into client or practice conflicts?”
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