Among the most ubiquitous features of modern law firm life are non-equity or contract partners. Despite the prevalence of such positions and the substantial benefit they bring to the profession and to the careers of many lawyers, some uncertainty remains as to what the title means and how to ensure that firms and their non-equity partners are operating within the ethical norms.
In this month’s column, we provide a brief description of some of the salient aspects of the non-equity partner position, discuss a recent and helpful Formal Ethics Opinion from North Carolina which addresses non-equity partners, and compare and contrast the opinion with the existing New York view.
