Law Firm Debt: How Much is Too Much?
The dissolution of law firms is not new - nor is the issue of excessive debt - and the frequency of both may accelerate as the economic slump drags on.
We have been vividly reminded of the relationship between the two with the demise of Silicon Valley powerhouse Brobeck, Phleger & Harrison, LLP. Such an event may bring home a nagging question about your firm's finances. If you are looking for a quick guide to whether your firm has taken on too much debt, here are some easy metrics that you can use as an early warning system.
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