Why Aren’t Law Firms Bought & Sold?

by | September 12, 2018 | Articles, Finance, M&A, Strategy

One thing you can count on when two law firms merge is that neither one buys the other.  I use “buy” in its simple and core sense: Nothing is obtained in exchange for payment. No cash changes hands; no stock is exchanged, no assets are purchased or...

It’s [Not] The Economy, Stupid

by | August 5, 2018 | Articles, Finance, Leadership, Strategy

It can be easy to remember the past Golden Era for BigLaw: Say, the decade preceding the 2008 Great Financial Meltdown.  And you would not be wrong to recall it that way.  No indulgence in nostalgia is required; that decade constituted an unheard-of run of economic...

Yield Curve Alert

by | June 25, 2018 | Articles, Finance, Leadership, Strategy

What is the “yield curve” and why should you care?  Well, first off, it’s not remotely the kind of topic we regularly write about on Adam Smith, Esq., because it seems far removed from “the economics of law firms,” but then again,...
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