When it comes to law firms, is bigger necessarily better? Sure, having a larger amount of equity and more legal counsel and advisors on the roster is advantageous for business; however, the underlying objective must be to deliver increased value for shareholders.
With law firms being functional at basically any size, large or small, it is very common for two or more firms to join forces to create a more powerful agency. A merger of two firms is considered a means of growth for today’s modern law firm by allowing both businesses to build a national presence, drive international expansion and better serve clients. As the economy changes and the market evolves towards a more digital landscape, traditional industries such as the practice of law have to adapt to modern procedures in order to survive and remain competitive.