ProLegal can help position your law business to appeal to potential buyers, or assist you in planning for its transition to identified leaders within your firm. Whether operating in a solo environment or as a group, law businesses face a host of critical issues. Sole practitioners must determine whether they are going to hire and develop a key associate to pass the torch to or sell their law business to an external prospect.

Law firms face many complex challenges which include: partners who want to phase out gradually, firm leaders who must be replaced, and client relationships that need to be passed carefully into new hands.  Even with advance planning and management these transitions can take years—yet many firms, and individual lawyers, are not adequately prepared. We help you identify a transition strategy specifically designed for the unique needs of lawyers and law firms.

Law Firm Succession Planning

ProLegal supports the development of succession planning programs and the consideration of related issues arising from the retirement of key partners, including profitability, client transitions, compensation and leadership development.  For individual lawyers, we help you develop your practice strategy and business operations to make them a more saleable asset to prospective buyers.

Maximizing current financial performance — We will review and identify your firm’s revenue capacity based upon your current team of professionals. We help develop a plan to maximize that potential and measure current and past performance.

Strategic Transition Plans — We work with you to develop a transition program based on your firm’s specific needs and culture, and identify the options to transition your business including merger, sale, transfer of leadership or closure. We help you develop parallel tracks for transition that position your practice to be both saleable and transferrable, so you are not limited to the valuation of an external market.

Key Client Transition Planning — We will collaborate with your firm to design specific strategies for successful transitions of clients, and advise on related marketing strategies.

How You Benefit

You will have access to our team of business and law professionals who will help you navigate the strategic, management, economic and cultural issues of lawyer retirement and succession.  Your firm will have the systems to maintain continuity and increase profitability during transitional times, retain key clients, and lay the groundwork for effective future leadership.

Law Practice Management

Whether you are positioning your law practice to be a saleable asset to prospective buyers, or desire to enhance your existing business operations as part of your succession strategy, ProLegal can support you in the effective management of the key business areas of marketing, financial operations, and information technology.

How You Benefit

ProLegal employs highly specialized professionals to manage each area of the business. Rather than establishing a proper management structure within your firm and allocating your valuable time to overseeing it, your attorneys can focus on their core competency- the practice of law and develop your associate talent.  Further, we maximize efficiency and productivity to increase revenue while controlling operational costs. With our systems, you partner with a sustainable team as opposed to an individual.