What’s your firm worth? Understanding law firm valuations
Abstract: Attorneys who routinely retain appraisers to value businesses as part of their practice may believe they know what’s involved when their own firms must be appraised. And those who don’t regularly work with valuators might think it’s simply a matter of a “plug-and-play” mathematical formula. Both notions, however, are mistaken. This article reviews how law firm valuations are different from — and sometimes more complicated than — typical business appraisals in some significant ways.