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Does the Corporatization of Big Law Mean the End of the Law Firm Partnership?

By definition, equity partners are law firm owners and investors, share in the profits, and are collectively responsible for overall strategy and management. Yet, when only a handful of people are involved in a monumental decision such as a merger, it’s clear that the definition of “partnership” has changed.

7 minute read December 01, 2025 at 12:03 AM
By
Lisa Shuchman
Does the Corporatization of Big Law Mean the End of the Law Firm Partnership?

When Perkins Coie and Ashurst announced last week that their firms would merge, most of their partners were blindsided. They were out of the loop — never consulted or included in any discussions beforehand.

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