I've noticed a common thread in my recent discussions with law firm leaders, and it all relates back to the core founding principle of most law firms: partnership.

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Conversations about the evolving legal industry inevitably lead to how much firms are able to change, and how quickly. And with that come discussions about balance. How far can firm management really push their partners when, after all, they are partners?

The dictionary has a special definition for partners by law, noting they are people “associated with another or others as a principal or a contributor of capital in a business or a joint venture, usually sharing its risks and profits.” But just how much are they sharing in the decision-making? And when a new model of law requires more businesslike (read: cutthroat) decisions, sharing equally in those risks and rewards becomes almost untenable.

My sense is that many firm leaders, whether it be at the top of the Am Law 100 or the bottom of the Second Hundred, are genuinely struggling with this issue. Some may also be using it as a shield to protect against having to make the difficult changes the industry (and their client base) requires.