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Many massive law firms have moved to a two-tiered partnership mannequin, with equity and non-equity partners Fairness partners are considered to have possession stakes in the firm, and share within the earnings (and losses) of the firm.
The precise books of enterprise and specialization of attorneys as well as the professional ethical constructions surrounding battle of interest can lead to corporations splitting up to pursue completely different clients or practices, or merging or recruiting experienced attorneys to acquire new shoppers or practice areas.
For example, U.S. firms will often merge … Read More