- Vendors can establish an “asking price” for the practice
- A prospective purchaser can gauge the worth of a practice
- A partnership maybe in dispute
- Practice acquisition
- You may be thinking of converting to LLP or Limited Company status
- You may be thinking of selling/merging your practice
- Branch office/departmental disposal
- Valuation maybe required by a financial institution
- Death of owner/partner or for purposes of drawing up a Will
- Litigation purposes such as Divorce, Family Issues etc
- Criminal Proceedings – Money Laundering
We are often faced with tangled problems which have occurred due to lack of research by prospective purchasers. Our message is simple – get this asset, (i.e. the law practice) properly valued.
Law practices are after all as different as the people who run them. Each practice has its own peculiarities and way of doing things. This makes it very difficult to compare any two practices. We at Law Mergers & Acquisitions visit each and every law practice we are instructed to value and why each and every law practice is valued on its own intrinsic worth.
Firms considering adopting LLP or Limited Company status should ensure the law practice is PROPERLY valued as Goodwill of the business must be transferred to the LLP or Limited Company.
