The recent change in law firm partnership structures has not happened for one particular reason, according to James Lavan, executive director at the recruitment firm Buchanan Law. He says, apart from talent retention, there are business development and client benefits, and financial advantages, too.
“By making someone a partner in name, although not in equity, there are obviously business development advantages given,” he says. “The name and title hold more sway and will grant lawyers access to firms and contacts they simply cannot get as an associate.”