Trade Up: This Is Your Reminder That Brand Names Are Valuable for Law Firms

Pre-pandemic, attorneys in a not insignificant number of states were disallowed from using ‘trade’ or ‘brand’ names for their law firms.  You know, like ‘Taco Bell’ – though, you probably wouldn’t actually name your law firm Taco Bell. 

 

That meant that lawyers were basically left with naming their businesses after themselves – usually some combination of hard-to-pronounce last names.  But, during and after the pandemic, those rules fell off; and, every jurisdiction in the United States now allows for law firms to select brand names.



And, yet: few have.  That may because attorneys are unaware of opportunity; but, it’s more likely that lawyers are just not keyed into the value of brand names, or don’t want the hassle of changing an existing name – though, it is worth it.  Why?  Well, there are a few primary reasons: First, it’s easier to transition work to non-name partners in the firm, with a trade name.  Second, it can provide a more direct attribution to the type of work you do: Call yourself an ‘injury’ law firm, if you handle personal injury claims; or, use a shield in your logo, if you’re running an estate planning firm and seeking to protect your clients’ assets.  Third, your unique brand & logo will become an asset; and, that’s true whether you keep or sell your law firm. 

 

So, if you’ve not considered a trade name for your law firm, it’s probably past time to think about making the swap. 

 

. . . 

 

If you’re down for a rebrand, we can help! 

Through a unique partnership between the bar association and Jared Correia's Red Cave Law Firm Consulting, National Creditors' Bar Association members have access to experienced law practice management consultants at a special discount rate.

To get started, visit Red Cave's NCBA landing page, and start running your law practice like a business.

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