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Law Firms Look At Closing Pay Systems

Unlike the vast majority of businesses in the United States, law firms generally operate under open systems that disclose the compensation of individual attorneys. The closed systems at Jones Day and Greenberg Traurig are major exceptions. But some observers say that law firms are moving toward closed systems as they function more like businesses and less like true partnerships.

32 minute readAugust 31, 2006 at 02:13 PM
By
Leigh Jones
Law Firms Look At Closing Pay Systems

Editor's Note: This article raises a number of serious questions about closed vs. open compensation systems. Stay tuned for an upcoming A&FP panel discussion on these issues.)

When Robert Tucker and 35 other partners jumped ship as Arter & Hadden was sinking in 2003, they wanted to leave behind the infighting about money that had pervaded some of the relationships at the now bankrupt Cleveland law firm.

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