The term "profit per equity partner" refers to a measure of profitability in law firms. It represents the amount of money earned by each individual lawyer who has an ownership stake in the firm, known as an equity partner. This figure is calculated by dividing the total profits of the firm by the number of equity partners and provides insight into the financial performance of a law firm. A higher profit per equity partner indicates greater earnings for each owner-level lawyer, which can be seen as a positive indicator of the firm's overall success.