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Category Archives: Buying & Selling a Practice

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LawBiz® Registry Offers Easy Way to Buy and Sell Law Practices

Posted in Articles, Books, Buying & Selling a Practice, Cash Flow - Finances, In The News, Press Releases, Technology
Lawyers from around the country continue to call me, asking for information on how to sell their practices. In response,we recently opened our LawBiz® Registry.  Visit the archives  for articles about buying and selling law practices and  other ways to monetize the goodwill that you have spent so many years to build. In addition, you may… Continue Reading

Retirement postponed

Posted in Buying & Selling a Practice
The recent Depression (2008, not 1932) has dashed the hopes and expectations of many lawyers. A recent survey reported by USA Today in its March 7, 2014 edition says that 58% of those between the ages of 54 and 64 years of age will retire later than the originally planned. Postponement generally comes from a reduction… Continue Reading

Legacy = Goodwill

Posted in Buying & Selling a Practice, Life After Law
I have been getting more calls from lawyers wanting to retire, wanting to sell their law practices. As a result, I started writing a new book. I just finished Life After Law: What Will You Do With the Rest of Your Life?  It is being edited now and will be available for sale in October.… Continue Reading

Law Firm For Sale

Posted in Buying & Selling a Practice
A client of mine has just listed his practice for sale. Established general law practice in a major trade center in the Eastern Sierra Nevada Mountains. Enjoy a sustained revenue stream equal to most major urban areas, yet with a lower cost of living and  with access to year around outdoor activities. Situated along California’s… Continue Reading

Selling a Practice is No Time to be Modest

Posted in Buying & Selling a Practice
 My friend and colleague Carolyn Elefant, on her blog, recently spoke to me about issues in selling a law practice (/). Carolyn raised an excellent point when discussing an advertisement by a 70-year old lawyer in Kansas who sought to sell his practice. The advertisement featured the fact that the firm uses practice management software tools… Continue Reading

Selling Your Law Practice?

Posted in Buying & Selling a Practice
PRESS RELEASE – NEW PRODUCTS FOR IMMEDIATE RELEASE Contact: Derek McIver Public Relations, Ictus Initiative 617.717.8294, NEW PRODUCTS FOR ATTORNEYS LOOKING TO LEAVE THE PRACTICE OF LAW     VENICE, CA. September 8, 2009 – LawBiz® Management, a leading provider of seminars and products on the Business of Law®, today announces the release of two… Continue Reading

Selling your law practice

Posted in Buying & Selling a Practice
One of the objectives in creating LawBiz® Forum was to provide an alternative method of buying and selling a law practice. There is no opporunities broker of whom I’m aware that focuses on law practices. Some lawyers prefer to save their cash, not engage an expert in advance, but yet want an outlet to sell… Continue Reading

Every law practice has a value & can be sold!

Posted in Buying & Selling a Practice, Management
I’ve just returned from a presentation by accountants on valuing a law practice. They talked about "excess earnings," "discounted cash flow," and "market value." They essentially discussed the valuation of a law practice from the perspective of the divorce court which fails to recognize market value as an appropriate standard of valuation, ostensibly because they… Continue Reading

I need your help …

Posted in Buying & Selling a Practice
You may have heard me talk about the 400,000 lawyers who will be retiring from the practice of law in the next 10 years. When the financial crisis first hit, I began to doubt that we will face so many retirements. But, my phone continues to ring with people wanting to know how to sell… Continue Reading

Closing a law practice

Posted in Buying & Selling a Practice
The New Hampshire Bar Association Ethics Committee, in May 2007, wrote an opinion or (my term) "white paper" as part of its ethics studies on closing a law practice. It’s a good summary of factors to consider, though certainly not complete.  And, since the date of this opinion/white paper, the Supreme Court of NH has… Continue Reading