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Distribution of profits is frequently one of the most potentially disruptive experiences that partners or shareholders have to face. It is axiomatic that no single compensation plan will be universally accepted and agreed to by partners in firms no matter how closely these legal organizations may resemble each other in size and type. The “best” compensation plan for any law firm is the one that creates the least amount of discontent and has the highest “grade” of fairness among and between the partners.
Philosophically, every law firm has a method for compensating its lawyers. Many compensation plans are purely subjective in nature, while others are highly structured. Most plans are a combination of the two.

A compensation plan that is well-conceived and skillfully implemented should accomplish the following:

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