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.)
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.
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