What difference does an equity or non-equity partner mean to a law department?

DuPont has begun to require its 43 preferred law firms (PLFs) to divulge whether partners are equity or non-equity when they ask for a fee increase for partners. Since 2002, DuPont’s legal department has required its PLF’s to submit a nine-part application when they requeste a rate hikes, and as of earlier this year, firms must also list the status of partners assigned to DuPont matters.

According to an annual survey by The National Law Journal, the percentage of partners who hold non-equity status at the nation’s 250 largest law firms has nearly doubled over the last decade. Better to look at the skills and value delivered of a lawyer than at his or her status within the firm.

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