Can You Truly Be a Partner If You Don't Have Equity?

On The Merits

The number of non-equity partners has ballooned in recent years, with some data estimating there will soon be more of them at law firms than full partners. But not all of these attorneys are happy with their job classification.

There are several ongoing employment lawsuits against firms from non-equity partners who claim they get the worst of both worlds: none of the profit sharing that full partners enjoy, but also no benefits or tax withholding that's standard for most employees.

The guest on today's episode of our podcast, On The Merits, says the non-equity partnership can benefit both lawyers and firms—if it's managed well. David Lat, author of the Original Jurisdiction newsletter and a Bloomberg Law columnist, talks about how firms can do make the non equity title work for everyone, and what types of attorneys can benefit.

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