Articles on Selling a Practice

Turning out the lights By Donald E. Weihl Law Office Management and Economics, Standing Committee on, September 2012 Selling a practice requires planning that begins long before the actual sale transaction is to take place. Here's a look at some of the usual steps to be taken in the sale process.
Law firm succession/Exit strategies: Practice continuation arrangements By John W. Olmstead Law Office Management and Economics, Standing Committee on, June 2011 Lawyers must invest time and effort to find suitable successors for their firms and to create useful, equitable, practice continuation agreements.
Seniors, don’t sell your law practice. Have fun! By John W. Damisch Senior Lawyers, June 2011 A few reasons you should consider keeping your practice.
Law firm succession/exit strategies: Valuation of the firm By John W. Olmstead Law Office Management and Economics, Standing Committee on, December 2010 How much is your firm worth?
Law firm succession/exit strategies: Ideas for getting started By John W. Olmstead Law Office Management and Economics, Standing Committee on, June 2010 You should make a succession/exit plan as soon as possible—not just for retirement but for unexpected situations as well—so that your family, employees and clients are not left in the dark if something should happen to you.
Editor’s column: The petition is filed! It is now up to the Supreme Court By John T. Phipps General Practice, Solo, and Small Firm, January 2004 On January 15, 2004, the ISBA filed with the Illinois Supreme Court a petition titled "In Re the Matter of Proposed Amendments to Illinois Rules for Professional Conduct to Allow and Regulate the Sale and Transfer of a Solo Practitioner's Law Practice" MR19235.
Editor’s column: Sale of a solo practice update By John T. Phipps General Practice, Solo, and Small Firm, January 2003 We have received a number of excellent comments and suggestions about the proposed transfer of a solo practice and made changes to the original proposed draft rules.
Practice transition problems of solos By Bernard Wysocki General Practice, Solo, and Small Firm, January 2002 Probably, the most important project that the General Practice, Solo and Small Firm Section Council has been working on this year, is the work on the proposal for changes to the Rules of Professional Conduct allowing the sale of a law firm by sole practitioners.

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