“Fencing on a tightrope” was the analogy used by Bradley Arant Boult Cummings chairman Beau Grenier to describe the perilous balancing act law firms have to perform in the face of a changing legal market.

At a panel discussion Friday moderated by Grenier in New York, legal industry experts debated the value of the traditional partnership model, as well as other alternatives for creating a governing structure likely to keep law firms competitive and profitable.

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