Law firm mergers are driven by any number of factors.
For example, some firms pursue mergers as a succession plans. While others pursue mergers for the perceived benefits of a larger platform or an entree into another jurisdiction.
Perhaps we should now add to that list, cybersecurity costs. In an article on law.com entitled “Will Cybersecurity Costs Force Small Firms to Merge?”, Lizzy McClellan explores the costs of cybersecurity in today’s world and whether small law firms are up to the task.
I’m sure technology advances will drive down the cost of security systems, but the hackers always seem to be a step ahead. Either way, McClellan poses an intriguing question. It’s one law firm leaders will need to ponder.