What might restrict a lawyer's ability to compete after selling a practice?

The ability of a lawyer to compete after selling a practice can indeed be restricted by the terms outlined in written agreements during the sale of that practice. In many cases, when a law firm is sold, the buyer may require the seller to adhere to specific conditions that can include non-compete clauses or other limitations on the seller's ability to practice law in the same area or geographic location for a given period of time. These agreements are typically negotiated as part of the sale process and are meant to protect the value of the practice being sold, ensuring that the buyer does not lose clients or compete directly with the seller immediately after the sale.

While changes to industry standards or client dissatisfaction might influence a lawyer's practice or market dynamics, they do not specifically create a binding legal restriction. Similarly, while non-compete agreements with clients may exist, they are often subject to different legal standards and may not directly pertain to the broader competition concerning the practice as a whole. Thus, the most direct and legally enforceable restrictions on a lawyer’s ability to compete after selling a practice arise from the written agreements made during the sale. These agreements clearly delineate the terms that govern the post-sale conduct of the selling lawyer.