As a matter of enterprise organization and as codified in the Uniform Partnership Act, a partnership — including a law firm partnership — is nothing more than “an association of two or more persons to carry on as co-owners of a business for profit.” Traditionally, however, lawyers make much more of partnership than that.

Within the cultural milieu of law firms, partnership implies both special privilege and special obligation. Many young lawyers in private practice see partnership in a major firm as the brass ring. To those who have achieved that status, partnership often forms a significant element of both personal and professional identity. A law firm’s culture depends in large part on what the firm expects of its partners.

This content has been archived.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 Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]