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There is plenty of incentive to stick together for now but as cashflow dries up new opportunities may open up for some partners.
June 24, 2020 at 03:07 AM
1 minute read
The current pandemic has created an unprecedented challenge for solicitors’ firms. Never before have firms had to deal so quickly with new ways of working whilst facing dramatic upturns and downturns in different practice areas.
Stories of employee furloughing and partner profit retention have featured daily in the legal press, alongside more general speculation about the property market and longer term changes to working patterns. Might we expect to see firms beginning to fracture, with partners (or members, in the case of LLPs) either being compelled to leave or choosing to do so, and if so, when?
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