Tuesday 14 June 2011
Closing a practice
Closing a practice cannot be an easy thing to do. It may involve loss of face and a degree of personal embarrassment as well as requiring labour for which it is impossible to charge anyone. Files and records must still be kept, or provision made for them to remain accessible, for such time as they may be needed. Closing accounts must be prepared. Also, anyone closing a practice but proposing to practise as an IP professional in the future, whether as a relocated sole practitioner, a fee-earner in a larger practice or in-house, must prepare a CV or trading prospectus which combines the truth with as much damage limitation as is compatible with it.
I suspect that several readers of this weblog have been through the same, or similar, experiences within their own careers. If any of them have comments, suggestions or advice for handling this sort of situation, this blog is willing to host them.