Looking ahead, nobody can be certain of the impact of the Legal Services Act on the traditional law firm model.

In the meantime firms are having to deal with issues such as declining volumes of conveyancing work, difficulties in securing or financing the annual PII renewal, challenges around succession planning and the introduction of much tighter lending criteria by the banks.

This will lead inevitably to greater market consolidation with weaker firms looking to sell or merge and those firms which are well managed with sound finances exploiting the resultant potential for sector or geographic growth via acquisition. On whichever side of that divide your firm may fall, this seminar will be an essential guide to the issues, considerations and pitfalls involved in the sale, acquisition or merger of a legal practice.

Topics covered:

• Business and strategic rationale for sale, acquisition or merger
• How to identify a business and strategic fit
• Finding the right partner
• Law firm valuations
• Successor practice issues
• Payment terms and financing
• Importance of compatible IT systems
• Changes to personal taxation and liability from restructuring
• Issues surrounding the ownership of commercial property
• Employee benefits and their impact on firms
• Financial planning to maximise business value
• Protection issues around partnership/director protection and key man cover
• Exiting the business: timing, funding and implications