The right move?
Attaining partnership in the firm of their choice is the pinnacle of most lawyers' careers, but the full implications of taking a stake in the firm are not always carefully considered, says Nick Moss
Most senior associates and salaried partners aspire to full equity partnership and, if asked to consider this, would be unlikely to lose sleep over the possible souring of that relationship at some distant point in the future. But they are exchanging employee status for the status of equity partnership, and the obligation to provide capital is not the only potential cost to the incoming partner in this exchange.
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