How do lateral partners develop a book of business and bring clients to a new firm? How does the client, especially a big one, just agree to uproot itself based on one person and go to another firm? And how can such partner be reasonably sure this would all happen?

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I think partners have close relationships with their clients. They work together for years, so clients often follow the attorney to their new firm. This may not happen with gigantic clients, but even big ones probably have just a handful of individuals in management who know the attorney well. It also probably helps when the attorney brings a team of associates from their old firm with them.

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I’ve seen associates with portables as well. If you specialize and become an expert in that area, your clients are more likely to port. You also need to build strong relationships with your clients so that their loyalty is to you and not the firm - this obviously doesn’t worn with institutional clients.

Do you recommend finding an unsaturated area to specialize in? Or is it just a matter of staying the course in your practice area?

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