Asked and Answered
By John W. Olmstead, MBA, Ph.D, CMC
Q. I am a partner in a three-partner, six-attorney firm in Chicago. We have had discussions with another law firm in the city regarding us acquiring their practice. The owner is 70-years-old and wants to retire and exit his practice. My partners and I have looked over the numbers and believe this would be an excellent opportunity for us to expand our client base. The practice handles the same type of work that we do. We are unsure what our next step should be. Do you have any suggestions?
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