Good morning everyone! Today is Friday, July 9th. Here’s a quick look back at yesterday’s stories.
Clifford Chance was the highest grossing firm among UK firms…
Sonnenschein added a veteran Exxon Lawyer to its Energy Practice…
Ogletree opened a Portland office…
Gonzalez Saggio & Harlan added two partners to its IP team…
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Morvillo Abramowitz was recognized by Chambers & Partners for the 7th consecutive year…
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Law firms of all sizes are being much more selective about who makes equity partner. Gone are the days where doing good work and putting in your time is enough to get you to a profit sharing level. Today, equity partners almost always have to prove that they can contribute their share to the firm. So what does this mean for associates and how can a two-tiered partnership track be beneficial? With a two-tiered partnership structure, associates get more time to prove themselves and also more time to determine whether partnership is the right goal for them. Two-tier partnerships (non-equity and equity) exist so the firm can train and develop associates into equity partners. The non-equity track to partner at most firms is on average, 6 years long. [...]
May 16, 2013 Read More
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