LAW FIRM MERGERS, DISSOLUTIONS & SUCCESSION PLANS

mergers & dissolutions

What legal and ethical issues should be addressed when law firms merge,  dissolve or implement a succession plan?

There are a number of legal and ethical considerations that should be addressed when a law firm reaches the end of its life cycle. Typically, that comes up in the following three situations:

  • two law firms merge practices;
  • a law firm dissolves; or
  • a law firm implements an existing succession plan.

The Nissenbaum Law Group is particularly suited to advising attorneys and their firms in such situations. That is because those transactions straddle so many corresponding practice areas in which the firm focuses.

This includes everything from the transactional work involved in documenting and negotiating the deal points to the compliance issues concerning the requirements of the local Rules of Professional Conduct to the digital law aspects of moving or terminating a law firm’s information technology infrastructure.

The firm’s representation in this regard generally involves some or all of the following:

  • negotiating the corresponding term sheet (sometimes referred to as the memorandum of understanding or letter of agreement);
  • preparing the contract implementing the merger, dissolution or succession;
  • filing the appropriate documentation with the state relating to the old and new entities;
  • preparing employment and/or independent contractor agreements for the members of the legal team;
  • preparing trademark filings for the new entity;
  • addressing the written consent that must be obtained from clients whose matters will be transferred from one firm to the other;
  • reviewing the conflict of interest issues that may arise from the merger;
  • following up on notices that must be given to the respective bars and courts in which the attorneys are admitted; and
  • working with estate counsel and a financial advisor to prepare or implement a succession plan.

These and other legal issues must be addressed when representing a law firm in regard to a merger, dissolution or succession plan. The Nissenbaum Law Group welcomes inquiries relating to such matters.

 

PUBLICATIONS & PRESENTATIONS

Gary D. Nissenbaum, Esq.

  • Panelist, New Jersey Trust and Business Accounting, New Jersey Institute for Continuing Legal Education, February 2021
  • Presented Seminar, How to Avoid Serious Mistakes When Facing an Ethics Grievance or Random Trust Account Audit, Essex County Bar Association, December 2020
  • Presented Seminar, “Good Grievance, Charlie Brown!” Latest Developments in NJ Ethics Law and Procedure, New Jersey Institute for Continuing Legal Education, July 2020
  • Presented Seminar, How to Avoid Serious Mistakes When Facing an Ethics Grievance, Wilshire Grand Hotel, December 2019
  • Presented Seminar, Attorney Ethics Grievances: 20 Insights from the Trenches, Wilshire Grand Hotel, December 2016
  • Presented Seminar, Attorney Ethics Grievance Process, Union County Bar Association, 2011

Looking for advice?

We're here to help.

Contact the Nissenbaum Law Group to schedule an appointment at 908-686-8000 or feel free to use the following form to e-mail us. Please include as much information as you can to ensure that we are able to handle your request as quickly as possible.

Looking for advice?

We're here to help.

Contact the Nissenbaum Law Group to schedule an appointment at 908-686-8000 or feel free to use the following form to e-mail us. Please include as much information as you can to ensure that we are able to handle your request as quickly as possible.

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OFFICE LOCATIONS

MAIN OFFICE

2400 Morris Avenue

Union, NJ 07083

P: (908) 686-8000

F: (908) 686-8550

140 Broadway

46th Floor

New York, NY 10005

P: (212) 871-5711

F: (212) 871-5712

1650 Market Street

Suite 3600

Philadelphia, PA 19103

P: (215) 523-9350

F: (215) 523-9395

100 Crescent Court

7th Floor

Dallas, TX 75201

P: (214) 222-0020

F: (214) 222-0029

PLEASE NOTE Meetings by appointment only in Union, NJ; New York, NY; Philadelphia, PA & Dallas, TX offices. Legal services generally performed from the Union, NJ office. The firm has attorneys licensed in New Jersey, New York, Pennsylvania, Texas and/or the District of Columbia. In limited circumstances, the firm may practice in other states under the prevailing multi-jurisdiction rules or through pro hac vice admission.

 

ATTORNEY ADVERTISING. Any questions regarding this website should be directed to Gary D. Nissenbaum, Esq. (gdn@gdnlaw.com), who is responsible for the content of this website.

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