Perspective
Mar. 10, 2011
All in for the Last Hand
Law firm compensation systems can be very murky, making it difficult for prospective partners to know what to expect. By Edwin B. Reeser.
LAST IN A FIVE-PART SERIES: Suddenly, it all begins to make sense. The increase in capital of 5 percent of projected income in 2008 amounts to roughly $60,000 per partner. The firm has shifted to its partners a personal recourse obligation - a borrowing item that the bank would not permit on its working capital line of credit to handle repayment of departing partner capital. In the aggregate, that was probably enough to generate a one-time $15 ...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In