Thursday, March 28, 2024

LAW FIRM PARTNERSHIPS: A BARGAIN?

On 6th March, 2024 when my attention caught this viral picture on Facebook of a couple legal personalities ROSS OSEI Esq and SYLVIA MAMLE ASSEM called to Ghananian Bar on 23/10/23 along with Ghananian Foreign Affairs Minister, Shirley Ayokor Botchway, I erroneously wrote they were called to the Nigerian Bar. Incidentally that also went viral.

However, it was the account of GhanaCelebrities.com that gave us the correct version.

The incident also reminded me about my call to the Nigerian Bar decades ago along with a couple legal personalities too.

I'm just wondering whether there's anything you've learned, especially our colleagues out there who may be itching to know before making the decisions Ross Osei Owusu Esq and Sylvia Mamle ASSEM Esq made?

Running Law firm partnerships could be difficult and sometimes a disaster. In some negative instances associates/partners rather than operate like birds of same feathers, turn out to be in thug of war: totally the opposite of business partnership, everyone moving against the tide. Are there antidotes to that?

However, we've seen law firm partnerships developed from informal structures to become quoted companies at the global stock lists.

According to reports quoted commercial law firms within one year, recorded 26% rise in value. UK law firms Gateley Holdings Plc and DWL Attorneys were cited as examples.

Similarly a report from law.com cited South Africa's EndAfrica as the first among 50 largest commercial law firms in Africa, lending credence to the benefits of partnership law firms.

Like other businesses law firm partnerships face challenges and fortunes, however everything depends on the leadership and how far their vision could take them.

I remain Ikechukwu Odoemelam  l IPlawyer  l Copywriter  l  Author  l  Digital Marketer  l  Graphic Designer  l  Blogger

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