Three out of four commercial lawyers think that 10-times annual profits is a fair price to pay for a major law firm – according to new research, which gives an indication of the price outside investors could expect to pay to buy into the UK legal services market.
In the latest Legal Week/ EJ Legal Big Question poll, 44% of respondents said that between five and 10 times annual partner profits was a fair market price for acquiring an entire law firm, with 31% assessing it as less than five times.
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