See you in the Home Depot lot.
Oct 10, 2024 (Reuters)
Cleary Gottlieb Steen & Hamilton will create a new category of non-equity partners, becoming the latest major U.S. law firm to move away from the traditional single-tier structure in which all partners have an ownership stake in the firm.
Adopting a non-equity partnership tier is “an important step for Cleary as we continue to strategically grow,” a firm spokesperson said in a Thursday statement. “Innovating in this way underscores our dedication to developing and retaining talent,” the spokesperson said.
New York-founded Cleary had 180 partners in 2023, according to figures published by the American Lawyer.
The firm generated more than $1.4 billion in total revenue, and profit per equity partner averaged $4.5 million, according to the American Lawyer data. Cleary has about 1,100 lawyers globally.
Read the full article here at Reuters
Other
When Cannabis Businesses Are No Longer Subject to IRS 280E
IRS 280E and Cannabis BusinessesWhat is IRS Section 280E? Section 280E of the Internal Revenue Code restricts businesses from deducting typical business expenses from their gross income related to the distribution of Schedule I or II substances per the Controlled...
MSP Flint post commander rigging promotion exams says lawsuit
Ex-Flint Michigan State Police post commander sued by trooper following internal probeThe former commander of the Michigan State Police post in Flint is alleged to have been providing answers to promotion exam questions to favored officers, while also engaging in...
Other Articles
Federal Ban on Owning Firearms by Cannabis Consumers is Unconstitutional Court Says
Federal charges against a non-violent, cannabis-using gun owner were unconstitutional.A federal appeals court panel upheld a lower court's ruling on Wednesday, declaring that federal charges against a non-violent, cannabis-using gun owner were unconstitutional. “The...
AG Nessel joined 21 attorneys general to regulate the sale of firearms
Extreme Risk Protection Order to prevent individuals from possessing or owning a firearm for eight years following their conviction. That legislation was signed into law by Governor Gretchen Whitmer in November of 2023.Michigan Attorney General Dana Nessel has joined...
Michigan DUI Laws and Consequences – First Offense
First Offense DUI in Michigan: Laws and ConsequencesFacing a first offense DUI in Michigan can be daunting as the implications are significant and the legal landscape is complex. Understanding the laws surrounding Operating While Intoxicated is essential, as these...
Michigan Supreme Court to Hold Public Administrative Hearing
On September 18, 2024, the Michigan Supreme Court will conduct a public administrative hearing, providing an opportunity for citizens and legal professionals to engage directly with the state's highest court. This hearing, held via Zoom and livestreamed on YouTube,...
