Best Practice: Lateral math - Can 1 + 1 = 3?
Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. We are a 16-lawyer firm - eight partners and eight associates located in Memphis. We handle business transactional work and litigation for small to mid-size companies. However, for the past 40 years our mainstay has been small community banks. With recent bank mergers and new banking regulations, our banking business has dropped off significantly. We have reached a desperate stage and we must replace this business quickly or consider possible dissolution. We have talked with a possible lateral partner that has a $300,000 book of debtor bankruptcy business. Is adding a lateral partner a good strategy for us?
ISBA President-Elect Hon. Russell W. Hartigan served as the guest speaker to the Union League Club's Attorney Group on Aug. 24. Judge Hartigan spoke on the many benefits of ISBA membership.
Join your peers for an afternoon of socializing and horse racing at this annual event! 