Any partnership, no matter the size, needs leadership. Good law firm management cannot be achieved until all the partners agree to subordinate some independence to a managing partner, an executive committee or a management committee. The partners must strike a balance between their rights as owners and their responsibilities as members of the firm. They must relinquish some personal prerogatives to achieve the overall results that they would not be able to attain on their own.
In theory, all partners are created equal. By dint of partnership status, they are accorded the same rights and privileges. However, as many firms quickly discover, that is simply not the case in practice. Invariably, each of the partners has his or her own idea about how to perform their job and exercise their authority accordingly.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
