A handful of law firms in Florida confirm that they have de-equitized partners. The recession seems to have given law firm leaders the incentive -- some consultants would say the courage -- to make the tough decisions to demote or fire low-performing partners. But demoting an equity partner to non-equity status isn't necessarily the best way to address the problem of a less productive partner, say some, because it can demoralize, or because non-equity partnerships should be kept for lawyers on the rise.
March 18, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A handful of South Florida law firms confirm they have de-equitized partners.
The recession has given law firm leaders the incentive — some legal consultants would say the courage — to make the tough decisions to demote or fire low-performing partners.
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