By Gina Passarella Cipriani, Law.com — May 01, 2018
As the legal industry clamors for a new model, will the market for spinoffs grow? If so, what goes into starting anew, and what are the hurdles to overcome?
If there is one piece of advice those who have made the leap all shared, it’s know who you are jumping with. “If you are going to form a firm, you want to make sure that you are doing it with people that you absolutely trust and that you want to work with because it is a bumpy road,” said Joseph Condo of IP boutique Condo Roccia Koptiw. “Owning a business is a bumpy road, but starting a business is bumpy and can be frightening. You have to trust implicitly, genuinely trust, and you know that you’ve got each others’ back.” But to hear Condo and others describe the process of forming their own firm, they almost make it seem easy, if not liberating.
Etan Mark, founding partner at the five-attorney litigation firm Mark Migdal & Hayden in Miami, was reluctant to put a cutoff on his firm’s growth potential. But he said the larger the firm, the more hurdles to changing technology and other functions. He said he has always had in his head 40 as the cutoff point for the number of lawyers at a litigation boutique like his.
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