This article will be of particular interest to partners in law firms that have or are considering implementing the “two-tier partner structure,” i.e., equity and nonequity partners.
Partners in a great many law firms have recognized the value of creating a two-tier partnership structure as opposed to the “up or out” alternative for dealing with those long-tenured associates the firm has invested a lot of money in developing, but who do not satisfy all of the objective and subjective criteria to become equity partners.
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