Is there a Generally Accepted Method of Calculating Goodwill?
• What Methods are Available to Mitigate the Effects of Large Goodwill Sums on Law Firm Dispute or Breakup Determinations? • What Provisions Should One Look For In Evaluating Partnership or Firm Agreements? • What Other Factors Are Often Overlooked • Do These Principles Apply to Professionals Other Than Lawyers? General Information About Professional Firm Disputes Disputes among professionals can occur in any number of ways. The most common is a law firm or other professional practice has one or more groups that have decided they can do better without the other parties remaining in the firm. Sometimes a majority group of lawyers will “gang up” on another lawyer whom they believe is not producing effectively. Sometimes a small group will conclude they can secede from the firm and do more effectively on their own without the “high overhead and development expense” of the larger firm. At the base of all of these disputes in “fear, greed and money” to quote the lawyers who testified in the
