With a unanimous vote, Baker & Hostelter’s partners agreed Thursday to adopt a “unified partnership model” and abandon the firm’s two-tiered structure. The 930-lawyer firm joins a small group of law firms that have eschewed two separate partnership tiers, where partners are strictly all equity or all nonequity, in favor of tying each partner’s compensation at least partly to firmwide profits.
DLA Piper shed its nonequity tier in 2008 in the U.S., and extended the change to its international offices in 2012. Akin Gump Hauer Strauss & Feld announced a similar move in 2013.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
