LSOs: Could They Be a Cure for What’s Constraining Law Firm Growth?

A common pathway to growth for small and midsize firms – becoming an acquisition target – is losing its luster. Many firms are not interested in being acquired or relinquishing their identity to a national platform. At the same time, they recognize that remaining competitive requires capital investment that traditional partnership structures may struggle to provide.

Legal Services Organizations (LSOs) may offer a viable solution. The question is not simply whether LSOs can work economically. The more important question is whether they can be structured in a manner that complies with applicable laws and ethics rules, preserves professional independence, and aligns with long-term firm governance.

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