With a unanimous vote, Baker & Hostelter’s partners agreed in September 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 elected to eliminate their 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 United States, and extended the change to its international offices in 2012. Akin Gump Hauer Strauss & Feld announced a similar move in 2013.
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