Yes, very differently. Law firm buyers hope to generate future revenue from an acquisition. Family-based buyers hope to benefit from future referrals.

Unlike family-based work, in an employment-based practice, buyers look for repeat clients. The most successful in this space rely on repeat revenue from business clients who have developed strong relationships with a firm’s owner and with other lawyers and staff. In a perfect world, buyers of an employment-based practice hope to take over the relationships the selling lawyer or staff already has with the corporate client.