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
AGs – Ex DEA Leaders for Push Public Hearing On Marijuana Rescheduling
State AGs And Former DEA Leaders Push Agency To Hold Public Hearing On Marijuana Rescheduling ProposalIn a filing with the federal government ahead of a key deadline this week, a group of former Drug Enforcement Administration (DEA) leaders is asking the agency to...
Why Better Made is suing several Michigan marijuana companies
Better Made vs. Cannabis Companies: A Michigan Trademark DisputeSummary Better Made, is embroiled in a legal battle with over a dozen cannabis businesses in the state. The lawsuit, filed in March 2024, centers on allegations of trademark infringement. Better Made...
Other Articles
Michigan Court of Appeals – Case Summary People v Bosworth
Michigan Court of Appeals - People v. Bosworth Despite these efforts, the jury found the evidence against Bosworth compelling. In the case of People v. Christopher Mychael Bosworth, the Michigan Court of Appeals rendered a decision on July 18, 2024. Bosworth was...
Michigan Court of Appeals – Case Analysis People v. Jackson
Michigan Court of Appeals - People v MICHAEL JACKSON Several critical legal issues emerged during the trial and subsequent appeals process including self defense claim and witness credibility. In a recent decision by the Michigan Court of Appeals dated July 18, 2024,...
Michigan Supreme Court restores wage and sick leave laws
Citizen-initiated proposals aimed at increasing the minimum wage and expanding paid sick leave In a significant ruling, the Michigan Supreme Court has reinstated the original minimum wage and paid sick leave laws that were initially gutted by the legislature in 2018....
SCOTUS Decision Gives Starbucks a Win in Labor Dispute
The decision underscored the principle that only activities that are essential and directly related to an employee's primary job responsibilities are subject to compensation. In a recent decision by the Supreme Court of the United States (SCOTUS), Starbucks received a...
