Signing on the dotted line – Due diligence for law firm mergers

Description

Abstract: Law firm merger activity dropped sharply in the wake of the COVID-19 outbreak, but some struggling firms are reassessing the strategy as a possible life preserver. The pandemic economy makes comprehensive due diligence more important than ever when evaluating potential arrangements, though. This article covers what firms should consider before signing on the dotted line, including financial issues, the entity structures of the merging firms, and the blending of attorneys and staff. A short sidebar discusses a few areas to research once the decision is made to go ahead with a merger to make the transition as smooth as possible.