The difference between a highly successful and a marginally successful law firm can very often be traced to how well the combination of its leadership/governance (policy determination and implementation), culture, partner compensation system and client base brings out the energies and talents of its attorneys.
While the success of many firms has resulted initially from the energy, skill and reputations of founding- and second-generation partners, at some point, the firm must establish an identity that transcends these partners and attracts clients because of its special capabilities.
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