The Art of the Law Firm Merger

Part one: The Art of the Law Firm Merger Introduction Goals Objections Process Approval Timetable Help. Chapter 1: Why law firms should consider merging The right reasons to merge and the rules that should apply Measuring return on investment Evaluating cost Chapter 2: Initiating the process What are the dynamics of a particular merger? Getting the ball rolling. Chapter 3: Preparing for a merger Due diligence. Chapter 4: How mergers should increase profits Reengineer partner numbers Productivity levers. Chapter 5: Business plans, business prospectuses and information packs Information pack Prospectus - strategic Business plan - tactical. Chapter 6: Stakeholder management plan Prioritise the stakeholders Understanding the key stakeholders Barriers to implementing merger initiatives Communications Early wins and no delays. Chapter 7: Integration Implement business plan tracking Continuous improvement Value-add and improved outcomes. Chapter 8: Merger risks and what can go wrong Assign key risk management responsibilities Identify NewCo's risk profile Evaluate the risks Establish effective risk management policies and processes Communicate that risk management is everyone's responsibility Monitor policies and processes. Chapter 9: The end game Go live. Chapter 10: The current market and its effect on mergers Economic drivers for merger activity Mergers as a cash flow improvement strategy Improving cash flow Impact of the Legal Services Act. Part two: Case studies Case study 1: Warner Cranston and Reed Smith Background The merger Lessons learned Case study 2: Reed Smith and Richards Butler Background The merger and lessons learned Press release: 15 June 2006, London, UK. Case study 3: TLT Growth strategy Towards a national brand Maximising merger outcomes Case study 4: Blake Lapthorn Establishing local pre-eminence Expansion into Oxford Expansion into London Post-merger growth. Case study 5: Edwards Angell Palmer & Dodge and Kendall Freeman Identifying the best-fit merger partner Integration Continued growth. Appendix 1: Due diligence checklists Partnership Background Operations Personnel Finance Risk, contractual risk and litigation Third-party agreements. Appendix 2: In-house post merger review Up front During the process Numbers Barriers to change Characteristics of successful change projects Post merger Index