Even “bad” law firms have goodwill

The case of Baker v Dorfman, 03 Civ 1168, as reported in the New York Law Journal of March 21, 2006, was interesting.

As I read the article, the case confirmed what I’ve been saying for years about the sale of law practices.

Small firms sell for less than larger firms; firms with bad publicity and malpractice & disciplinary matters hanging over their head have little goodwill; payment is seldom made up front in full, usually on a payout basis; every law firm, even


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