New Year’s Eve was Tavern on the Green’s last night for dinner under its current ownership. Now, after a fight for ownership rights of the brand, a Manhattan federal judge will decide who gets to keep the name Tavern on the Green, valued at $19 million. That makes the brand worth 50% of annual gross receipts of $38 million. ^{1 2}

While a name like Tavern on the Green has tremendous value as a brand that draws people to the restaurant, lawyers are in a different situation with two distinct differences.

First, a lawyer’s name cannot be sold with the law practice because of the prohibition, in most states, of using another lawyer’s name who is not practicing in the law firm. If a lawyer’s name is branded, it becomes a brand with substantial value that cannot be realized upon the sale of the law practice.