One area that has been the subject of much litigation concerns when a debtor can sell general and limited partnership interests, as well as its role as the manager of the partnership’s business. This issue was addressed recently in a decision by the U.S. Bankruptcy Court for the Northern District of Texas in In re Genesis Healthcare.
What actually moves a lawyer forward is a series of realizations that, stacked one on top of the other, let them create tremendous value.
What actually moves a lawyer forward is a series of realizations that, stacked one on top of the other, let them create tremendous value.
While Clifford Chance may be the latest firm to enter a legal battle with former partners over compensation clawbacks, it certainly isn’t alone, as pay disputes between firms and outgoing partners are becoming more common, amid rising partner pay and lateral movement.
The legal industry is going through the same leadership reckoning playing out across the Fortune 1000. The pioneers are already on the far side of the river. The settlers are crossing. And the stragglers are still deciding whether to go. Which camp are you in? And more importantly, who are you learning from right now?
At a time when Big Law partner pay flexibility is key, law firms are leaning on bonuses and a mix of partner equity and cash to reward top performers and entice lateral partners, industry observers say. Some firms are even dangling “triple-bonus” packages.
Big Law competition for top real estate partners has accelerated in 2026 amid heightened client demand in their practices and a growing alignment between real estate and energy practices for data center work.
If you want sustainable revenue growth, you cannot treat rainmaking as a personality trait. You must treat it as a professional discipline — one that is intentionally developed through structured partner development based on a proven framework.
To win the talent war in this free-agency era of partner movement, firms must have a war chest. After all, anything is on the table now, recruiters say, when it comes to lateral moves.
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.
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