By: ED POLL//December 20, 2012//
Interest in the sale of law practices continues strong and unabated. This may reflect continued economic stress, the aging of the profession or simply greater desire to look for greener pastures outside the law.
No matter what the reason, lawyers wanting to sell their practices are confronted with questions that many of them are ill-equipped to answer, even if they are experienced transactional lawyers. That is because a practice sale is not just a business decision; it involves the unique combination of business and ethics issues that only lawyers must confront.
The following is not a comprehensive list of such questions but it does indicate the type of mental checklist a selling lawyer should have when contemplating a practice sale.