Law firms continue to struggle in order to define the obligations of partners. This article sets forth what I believe to be the minimum contributions that should be expected of any equity owner in a law firm.
A partner is not fulfilling his or her obligations as an owner of the business if he or she does not meet all the minimum requirements. I hope that you will be able to use these suggestions in thinking about your partnerships, how they operate and how individual partners contribute.
Owner Definition
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