Whilst mergers are appropriate for many practices, they are by no means the only strategy open to those wishing for or needing a change of direction. Like any business, professional practices reach key points in their natural life from time to time that demand significant changes in their internal structure.
Some examples are:
- Retirement and admission of new partners
- Partner disputes
- A significant change in funding requirements, either through growth or contraction
- Preparation of the business for sale
We consider the following issues: