Non-Equity Partners
-
Biglaw
Paul Weiss Creates Non-Equity Partnership Tier To Remain 'Competitive' In The Market
Paul Weiss had an all-equity partnership for nearly 100 years, but times have changed, and now the firm needs to change too. -
Biglaw, Sponsored Content
Is It Better To Be An Equity Partner Or Non-Equity Partner?
On balance, equity partnership is likely still more rewarding in most cases. But for lawyers in certain situations, non-equity arrangements can have strong appeal. - Sponsored
How AI Is The Catalyst For Reshaping Every Aspect Of Legal Work
Findings from the "Future of Professionals Report," based on a survey of 1,200 professionals from North and South America and the UK. -
Biglaw, Sponsored Content
Evolving Partnership Economics: The Equity And Non-Equity Models Are Starting To Blur
In the current law firm landscape, the fact that a lawyer has been designated a partner often conveys very little about the economic arrangement between that lawyer and the firm.
-
Biglaw
Yup, Nonequity Partnership Is Used Disproportionately For Minorities
This is a disturbing, though not unexpected trend. -
Biglaw, Sponsored Content
3 Reasons To Embrace The Rise Of Non-Equity Partners
Not every firm can be a Cravath or a Cleary (or a Davis or a Debevoise). -
Biglaw
What Do We Talk About When We Talk About Partnership?
A 'partner' isn't always a partner -- and maybe that's okay. -
Biglaw
Making Partner Is Not As Awesome As You'd Think
Not all partners in Biglaw are created equal. -
Biglaw
Stuck In The Middle With You
In essence, a non-equity partner is a non-partner partner, and the existence of a non-owning partner in said partnership renders it a non-partnership. - Sponsored
Are Small Firms Going Big On Legal Tech?
Please help us benchmark your firm against your peers through this (always) brief and anonymous survey and enter for a chance to win a $250… -
Morning Docket
Morning Docket: 09.15.17
* Yes, it’s true: Jeff Sessions came thisclose to resigning as attorney general, after Donald Trump berated him following the appointment of special counsel Bob Mueller in the Russia probe. [New York Times]
* Bye-bye to blue slips? It wouldn’t exactly be “nuclear,” since their treatment has varied greatly over the years. [BuzzFeed]
* The State Bar of California tries to cut down the arguments in favor of a lower cut score on the bar exam. [ABA Journal]
* Technology platforms are driving an increase in transparency that’s having profound consequences for the employer/employee relationship (as I recently discussed on the podcast of Akerman employment-law partner Matt Steinberg). [Akerman]
* Embattled Equifax has turned to Phyllis Sumner and King & Spalding for much-needed legal help in the wake of its massive data breach. [Law.com]
* Statutory interpretation question: can you be both the victim and the perpetrator in a child pornography case? [How Appealing]
* The ranks of nonequity partners continue to grow; has this trend gone too far? [Big Law Business]
* Prosecution of individuals in cases of corporate wrongdoing (aka the Yates Memo), and Justice Department policy on enforcement of federal marijuana laws in states where it has been decriminalized — both are “under review” at the DOJ, according to Deputy Attorney General Rod Rosenstein. [Law.com]
-
Morning Docket
Morning Docket: 10.05.16
* Who recently made partner at Kirkland & Ellis, Covington & Burling, Goodwin Procter, and Curtis Mallet-Prevost? Here’s a nice round-up that highlights the names of the 112 associates who were promoted at these four firms. Don’t be too shocked by that high number; the vast majority of partner promotions were made at Kirkland, where 81 attorneys were welcomed into the ranks of the firm’s non-equity partnership. [Big Law Business]
* In what’s hailed as a victory for gay rights, Massachusetts expanded the legal definition of the word “parent” to be read “in a gender-neutral manner, to apply where a child is ‘born to [two people], is received into their joint home, and is held out by both as their own child.'” The state’s high court also allowed parentage laws to be construed to apply to members of same-sex couples without biological ties to the children. [WSJ Law Blog]
* Today, SCOTUS will hear arguments in a case challenging “judge-made law,” that is, what is and isn’t considered insider trading. If you trade on information received from a third party who received it from an insider, is that insider trading? Even Mark Cuban wants to know, writing in an amicus brief that “no one should be prosecuted for conduct that Congress is either unwilling or unable to define.” [DealBook / New York Times]
* The Oklahoma Supreme Court struck down a law that forced abortion providers to save fetal tissue samples from patients younger than 14 years old, on top of other broad restrictions. The court unanimously ruled that the law violated the state constitution’s “one subject” rule. In a separate concurrence, four judges would’ve struck down the law as an unconstitutional burden on a woman’s right to have an abortion. [Reuters]
* Much like America, the Supreme Court seems to have a problem with race this Term. The high court will be hearing three divisive cases having to do with racial slurs, racial rhetoric, and racial epithets, and the Court may very well be divided along ideological lines, resulting in 4-4 deadlocks thanks to the seat left vacant by the late Justice Antonin Scalia and the Senate’s refusal to give Judge Merrick Garland a hearing. [CNN]
-
Biglaw, Partner Issues
In Major Overhaul, Biglaw Firm Creates Two-Tier Partnership To Boost Profits
This is a pretty bold move. -
Biglaw, Money, Women's Issues
Biglaw Partner Files Class Action Lawsuit Over 'Male-Dominated Culture'
These allegations are stunning. -
Biglaw, Partner Issues
Stats Of The Week: The Last Of The True Biglaw Partnerships
As Biglaw begins to run itself more like a “business,” vestiges of the traditional law partnership have started to fall away.
Sponsored
Profit Powerhouse: Elevating Law Firm Financial Performance
How AI Is The Catalyst For Reshaping Every Aspect Of Legal Work
Document Automation For Law Firms: The Definitive Guide
Sponsored
Are Small Firms Going Big On Legal Tech?
Early Adopters Of Legal AI Gaining Competitive Edge In Marketplace
-
Biglaw, Partner Issues, Women's Issues
7 Highlights From The 2015 Survey On Retention And Promotion Of Women In Law Firms
Hopefully we are not one hundred years away from gender equality in the partnership ranks. -
Biglaw, Money, Partner Issues
You Won't Get The Money!
What are the odds of you actually making $3 million as a partner at a Biglaw firm? Biglaw partner turned in-house lawyer Mark Herrmann runs the numbers. -
Biglaw, Partner Issues
Major Partnership Overhaul In The Works At Biglaw Firm
A major law firm considers eliminating its non-equity partner class. -
Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
Bingham McCutchen: Is The Patient Stabilizing?
What are the latest revelations about the state of affairs at troubled Bingham McCutchen? -
Bankruptcy, Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
The Rise And Fall of Bingham McCutchen
What happens to Bingham if the Morgan Lewis deal doesn't go through? -
Biglaw, Lateral Moves, Law Firm Mergers, Partner Issues, Partner Profits
What Needs To Happen For the Bingham / Morgan Lewis Deal To Proceed
There's good news for some Bingham partners, and bad news for others. -
Biglaw, Clerkships, Football, Kids, Money, Morning Docket, Music, Partner Issues, Rankings, Rap, SCOTUS, Summer Associates, Supreme Court, Technology
Morning Docket: 09.15.14
* “Operas can get pretty gory. I should have put that in my brief.” In the upcoming Supreme Court term, it looks like law clerks will have to educate their justices about the intricacies of rap music’s sometimes violent lyrics. [National Law Journal]
* The pay gap between equity and non-equity Biglaw partners is growing wider and wider. According to recent survey, on average, equity partners are bringing home $633K more than non-equity partners each year. [Am Law Daily]
* Hackers are targeting Biglaw firms to acquire their clients’ important secrets. Unfortunately, no one is brave enough to step up to the plate and say their firm’s been hit — admitting that “could be an extinction-level event.” [Tribune-Review]
* Which Biglaw firms had the most satisfied summer associates this year? There was a big rankings shake-up at the top of the list this time around, and we’ll have more on this later today. [Am Law Daily]
* In the wake of the Ray Rice scandal, Adrian Peterson screwed up many of your fantasy football teams after he was indicted for hurting his child “with criminal negligence.” He’s now out on $15,000 bail. [CNN]