The rapidly accelerating rate of consolidation in the legal profession continues to capture the attention and interest of lawyers everywhere. In recent months we have even seen an increase in the announcements of mergers in New York City. The question that we hear time and again from firms considering merger is whether these and other mergers have been successful. Some firms want empirical evidence of this success, or lack thereof, and look at areas such as increased profits, while others look for “telltale” signs such as partner defections. While these may be interesting, they cannot tell the whole story and can often lead to an incorrect conclusion. This article will define those success measures, although perhaps not in the black and white terms that some would like to see.
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