Selling Your Law Firm

November 2012
Bench & Bar of Minnesota;Nov2012, Vol. 69 Issue 10, p22
The article presents information on the drawbacks of selling law firms by solo practitioners and owners of small firms who are on the verge of retirement. It informs that there is no standardized procedure for selling a law firm and also suggests the rule-of-thumb method to estate-planning lawyers for estimating future revenue in potential businesses. It mentions that most of the law firm buyers prefer the earn-out method to tackle the risk-averse nature of attorneys.


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