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Now that the Tax and Trade teams are leaving ELP to join Dhruva Advisors, what are the lessons for family-run firms, where currently the founding partners have full control and also have a good reputation and billings, but the succeeding generation might not have the same reputation and billings? For example, around 12 years ago, India’s then biggest and most prominent law firm split into two, and the two law firms formed as a result of that break-up are still Tier 1 firms. The Mumbai HQ firm is still very much under the control of one individual (who has a Persian first name and so let’s call him Cyrus). Cyrus has a son (Son) and a daughter (Daughter) and both are good lawyers, but unlikely to become leading legal luminaries in India’s crowded legal market. Cyrus is in his late sixties and after he retires, will other partners in the firm allow Son and Daughter to take home a big chunk of the bacon, even if they aren’t billing in proportion? Won’t the other partners just walk away, even if Clever Cyrus is likely to have embedded a number of poison pills in the firm’s partnership deed to prevent or at least discourage exactly that scenario? What do you all think?