publication of the International Legal Technology Association
Issue link: https://epubs.iltanet.org/i/355985
ILTA WHITE PAPER: JULY 2014 44 WHEN FIRMS COMBINE: A KM PERSPECTIVE ON LAW FIRM MERGERS For people working in these firms, reactions include fear, excitement and everything in between. While opening massive possibilities, these transformations also bring change and uncertainty, both of which tend to make people uncomfortable. They naturally wonder whether and how their roles, routines and working relationships could change. For knowledge management (KM) folks, the prospect of all those fresh ideas, best practices, lessons learned and untapped knowledge converging represents nothing short of a golden opportunity. So, what is it really like for the people involved when law firms combine? My interest in this topic is not purely academic. Last year, the firm where I work — the venerable Canadian business law firm FMC — combined with SNR Denton and Salans to form Dentons, the seventh largest firm in the world. As a KM professional, I was excited about the notion of going from six offices across Canada to more than 75 offices in over 50 countries, and the experience has been as rewarding as I had anticipated. Still, my experience with firm combinations is relatively limited and new compared to that of others in the field. To draw on the deeper, more varied and longer experience of others, I talked with six ILTA members, most of them veterans of multiple mergers and combinations over the course of the past decade or so. Because of sensitivity associated with some of the questions and a desire for frank discussion, much of the following summarizes the panel's Despite this variation, common themes and principles emerged, not the least of which is that none of the firms chose to combine simply to build size; rather, the firms combined to build strength. These firms were looking for the right fit with firms that would complement their culture and were interested in moving in the same direction. Though all consulted describe their experiences as overwhelmingly positive and the results decidedly successful, all encountered bumps and challenges along the way. general observations, rather than associates specific remarks with individuals or their firms. Firms have their own mix of reasons for combining with other firms, and no two combinations are alike, not even transactions involving similar parties and steps. Even within one firm, different people in different roles and offices experience the same events differently. We all bring our own perspective, background and current circumstances to bear on how we approach and react to major changes at our workplace. The scenarios presented by those I interviewed run the gamut. Some of those interviewed witnessed measured growth through a couple of hefty combinations, while others saw steady growth through a dozen or so pairings in nearly the same number of years. In some cases, a primarily regional firm joined with several smaller firms to build its practice and reach, while other scenarios involved firms with international offices combining to form a truly global presence. Expertise varied too; some of those interviewed work in KM, while others work in IT with some KM-related responsibilities.