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Sole Boss / Issue 69

Legally India newsletter
Legally India newsletter

The sole proprietorship law firm model has certain advantages. Depending on the proprietor such firms may have stronger strategic direction and decisions can be made quickly, for example.

One disadvantage is that institution building is limited because the proprietor is the brand’s centrepiece.

In 20 years Thakker & Thakker has carved out a strong niche and reputation in servicing foreign companies, especially in the technology sector.

By year-end, however, the firm name Thakker & Thakker will be history, as its founder Bijesh Thakker is looking to devote his time to ventures more philanthropic than the cut-and-thrust of corporate law.

The firm’s 50-odd lawyers and younger partners meanwhile, appear to have no plans to leave the profession. Re-creating a new brand on their own will be difficult but not impossible, although an easier option would be wholesale absorbtion by another firm.

Whichever firm (if any) does provide the Thakker lawyers with a new home will rightfully be able to call it a scoop in these times.

With the third quarter of 2010 now over India has seen the highest M&A activity on record benefiting a raft of law firms. And almost half of those deals done were in the media, telecoms and technology space, according to mergermarket.

Watch this space.

In a sign of changes in the noble profession - although not everyone would agree that it's change for the better - a minor celebrity Bombay advocate with a flashy website has entered the Big Boss house this week. The reality TV show, which in most other countries is called Big Brother, is sure to generate publicity but begs the question: is the behaviour “gentlemanly” enough to comply with bar council rules of conduct? Or do no lawyers care/watch?

The Bar Council of India definitely won’t have time to look at the moment, being in the middle of a bizarre move back to its original office after relocating less than four months ago. Apart from killing its internet connections and telephone lines (including the bar exam hotline), unpacking the boxes and finding files could take a while. Luckily the bar exam Supreme Court and other challenges don’t seem to be going anywhere at the moment.

And neither is the Chennai writ petition against 31 foreign law firms, which has been adjourned for another two months this week.

If courts were sole proprietorships things would no doubt move much faster.

Legally news wire

Blogs of the week

Tweet of the week

Judge raps Bombay cabbies for refusing to go short distances http://bit.ly/c9rxJU BTW, has Competition Commission of India ever looked at any cab cartel/unions?

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