July 01, 2012

Practice for Sale: Buying a Practice

Steven D. Rinaldi

One means of growing your practice is to purchase the practice of another attorney. Such a move could increase your client base and enable you to expand your areas of practice. Most (but not all) sales of legal practices proceed along the following steps: initial negotiations between the prospective seller and purchaser, signature of an asset purchase agreement, notification to the clients of the seller, due diligence, and actual sale of the assets of the legal practice.

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