Case Studies

Case Study: Facilitating partner conference

We regularly facilitate partner retreats/conferences for law firms.  These are usually a full day strategic session to include workshops and breakout sessions, all ultimately with the intention of bringing partnerships closer together to achieve their strategic aims.

Topics covered can vary including goal setting, strategic reviews, ultimate objectives, exit planning, growth, lock up reduction, profit maximisation etc.

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Case Study: Profit Share Review

Profit share seems to be a particular hot topic for law firms at present, with many reviewing whether their profit share mechanism is appropriate.  Most are considering whether it is fair; whether it is in line with competitors/the market; whether it encourages the right behaviours; and whether it helps to attract and retain the best people.

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under review written on a post-it note

Case Study: Governance & Profit Share Review

Governance and profit share seem to be particular hot topics for law firms at present, with many reviewing whether their approaches are appropriate.  Most are considering whether they are fair; whether they are in line with competitors/the market; whether they encourage the right behaviours; and whether they help to attract and retain the best people.

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two businessmen shaking hands

Case Study: When “Big Law LLP” comes calling – a niche law firm acquisition

Armstrong Watson was engaged by a significant niche firm who were being purchased outright by a large global player in order to create a fully formed specialist team within the significantly larger practice. We were therefore engaged to value the smaller practice, to negotiate heads of terms, to comment on the taxation aspects of the deal and to perform the “reverse due diligence” on the acquirer.

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Case Study: Protection of Interests in Law Firm Closure

Armstrong Watson was engaged by Genus Law Limited to find a firm to acquire the ongoing matters, client relationships and successor practice status; monitor compliance and lead on interaction with the SRA; and to ultimately liquidate the business.

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Case Study: Taking Your Team and Setting Up On Your Own

Armstrong Watson was engaged by a head of practice area who was keen to take his existing team and clients from his current multi-partner firm to create his own sole practice. We were therefore engaged to value his current position in isolation, negotiate an exit value, incorporate a new entity, register the new entity with the SRA, establish lines of financing with bankers and ultimately assist in the ongoing financial compliance of the new business (e.g. in respect to payroll requirements, HMRC etc.).

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Case Study: Company Bonus Scheme

Background

Over the last year we have been approached by a number of firms looking at how they can maximise the output of their people.  They were all considering how they reward their people can influence performance.

What was the issue?

The firms were all keen to reward their people but were concerned about the impact the structure of the reward could have on the culture and staff of the firm.

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Case Study: Law Practice Dispute Valuation

Our legal sector team has a great deal of experience of valuing practices for a variety of purposes including retirements; disposals; mergers; incorporations; restructuring; and increasingly with disputes. We also have experience of being appointed as a single joint expert witness to value practices where the owners are in dispute. However despite all of that experience, each valuation is bespoke and presents different challenges, especially with disputes.

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Case Study: Two Partner Law Firm

The Budget of 21 March 2012 didn’t hold too many changes for a two partner law firm in Yorkshire we have been working with for a number of years. Yes, the top rate of tax will be reduced from 50 pence in the pound to 45 pence from April 2013, but income in excess of £100,000 per annum will still see personal allowances removed, creating an effective tax charge of 60% on a proportion of income.

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