Valuation of a Law Firm and a Law Practice

Valuation of a Law Firm and a Law Practice

Valuing a business concern is difficult.  When that concern is a closely held business, the task is complicated by several factors.  When the closely held business is a professional practice, the task is complicated further.  And when the professional practice is in the field of law, the task becomes most difficult of all.  What is the fair value of a lifetime of work building a law practice?  This article discusses the issues and methods to answer that question.

What's Being Valued -- What's Being Transferred?
This very simple question is often the one most overlooked.  One cannot value a law practice without knowing what's being transferred, although many people try.

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