Selling a Niche Practice

Attorneys invest years of hard work into their practice and upon retirement simply walk away, not even attempting to sell what took a lifetime to build. Over the last few decades, many lawyers have accepted the application of business and marketing principles in the context of a law practice. However, the concept of selling a practice in much the same way that other businesses are sold remains foreign and seemingly unattainable to much of the legal profession. It’s all a matter of adopting a mindset that a law practice is in fact a business with value and then working smart AND hard to maximize that value. The following topics are covered in this White Paper:

Key Steps to Building a Practice to Sell

• Making a Plan While Making Money
• Assembling a Team
• Finding a Buyer
• Valuation of Practice
• Negotiating Points to Consider
• Pitfalls to Avoid
• Compliance with MRPC 1.17