A new renormalization group treatment is proposed for the critical exponents of an m-fold Lifshitz point. The anisotropic cases (m not equal 8) are described by two independent fixed points associated to two independent momentum flow along the quadratic and quartic directions, respectively. The isotropic case is described separately. In that case, the fixed point is due to renormalization group transformations along the quartic directions. The new scaling laws are derived for both cases and generalize the ones previously reported.