Biglaw Perk Watch: Equity Compensation Schemes

Our somewhat flagging coverage of the perks or fringe benefits of law firm life is getting reinvigorated, thanks to your suggestions. If you have an idea for a perk that merits discussion, please review our prior coverage (scroll down), to make sure we haven’t covered it already. If we haven’t, then please send your idea to us by email (subject line: “Biglaw Perk Watch”).
A tipster submitted this interesting topic:

[Y]ou should do a thread on firms that allow associates to participate in equity compensation schemes, i.e., purchase stock in clients. This is pretty common among the native Silicon Valley firms, but nowhere else, and is the only way I see any upside to practicing law!

This practice was very popular during the late 90’s tech boom. But that was before the tech bubble burst.
Do firms continue to do it today? If so, how lucrative can it be for participants? Can any associates who have taken advantage of this benefit describe how they made out financially?
Please discuss in the comments. Thanks.

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