According to legal experts quoted in the article, new business models will probably include new compensation structures, increased specialization, and smaller partnership classes. (legalexpertconnections.com)
They were often small partnerships, which meant that the partners had a strong sense of personal responsibility and fiduciary duty to their clients. (grlla.com)
It has never been harder to make partner at BigLaw, and post - recession trends of smaller partnership classes remain likely to continue indefinitely, although there is some evidence that more non-equity partners and counsel are being made due to more limited equity partner opportunities. (mlaglobal.com)