How Firms Can Avoid the Wrong Investor as PE Eyes Legal

Legal ethics attorney Trisha Rich and private equity attorney Joshua Porte were cited in a Law360 article on how law firms should evaluate outside investors as interest in private equity and alternative business structures continues to grow in the legal industry. They advised firms to assess their long-term goals before seeking capital and to look for partners with experience in professional services who understand the importance of preserving lawyer independence, firm culture and workforce morale. Ms. Rich and Mr. Porte also emphasized that, although financial viability is important, cultural cohesion is additionally a significant factor to weigh.

"I can't stress enough how important it is for investors and law firms to have a cultural fit and be in a true partnership with each other that will make sense for the long term," Ms. Rich said.

READ: How Firms Can Avoid the Wrong Investor as PE Eyes Legal