SAN FRANCISCO — Therese Williams left Hewlett-Packard Co.’s legal department to rejoin Baker & McKenzie’s San Francisco office as counsel on Monday. She advises clients on their equity-based compensation programs.

Equity compensation—the gift that keeps on giving for lucky employees of startups that strike it big—is becoming the norm in the tech industry, Williams said. “Employees now expect there to be some kind of equity compensation.”

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