The compensation of partners at a law firm varies widely. Partners earn a share of the firm’s profits. Partners may work on individual cases or preside over a team of associates. A law firm’s compensation policy must consider the interests of its partners. In the United States, partners typically earn at least the minimum level of compensation set by its Board of Partners. While most firms employ a tiered system, some firms maintain a purely merit-based compensation structure.
Firm culture is hard to define, but it is most commonly related to behavioral norms and expectations. Firms must articulate core values and assess how they are lived out. The results of the transition will vary. Firms that acquire new practice areas may see a shift in their organizational structure, focus, and resources. In contrast, firms that merge with other firms may experience a broader transition. A firm may lose some of its initial strength and focus in one area while gaining a broader range of clients.
The process of hiring a law firm begins when a client engages the services of a lawyer. The lawyer reviews documents to determine what is relevant to the case. During this time, the lawyer often meets with clients and listens to their concerns. In addition, lawyers may talk to clients to uncover the truth about a case. Ultimately, the client is the one who gets the final decision. In this way, law firms are vital for many Americans.