Cleary becomes latest US law firm to add non-equity partners

KOMORN LAW

STATE and FEDERAL
Aggressive Legal Defense
All Criminal Allegations / DUI / Drugs
Since 1993

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

Attorney Michael Komorn

Attorney Michael Komorn

State / Federal Legal Defense

With extensive experience in criminal legal defense since 1993 from pre-arrest, District, Circuit, Appeals, Supreme and the Federal court systems.

KOMORN LAW (248) 357-2550

Other

Trump plans – How does Cannabis Business fit in?

Trump plans – How does Cannabis Business fit in?

You work hard. Now get ready to work harder to prepare to give more.President Biden's administration has proposed the reclassification of marijuana from a Schedule I controlled substance to a Schedule III drug, which recognizes its medical benefits. This significant...

read more
Police say they can tell if you are too high to drive

Police say they can tell if you are too high to drive

Police say they can tell if you are too high to drive. Critics call it ‘utter nonsense’Haley Butler-Moore sped up to pass a semi on the highway when she suddenly saw the police lights. She’d left Albuquerque hours earlier, heading to a Halloween party in Denver. Tired...

read more

Other Articles

Search and Seizure – Consent or Plain view

Search and Seizure – Consent or Plain view

The Fourth Amendment was established to protect individuals from unreasonable searches and seizures, yet there are exceptions.In Michigan, understanding the concepts of search and seizure, particularly regarding consent and plain view, is crucial for both law...

Using a computer to commit a crime – The latest add on charges

Using a computer to commit a crime – The latest add on charges

FRAUDULENT ACCESS TO COMPUTERS, COMPUTER SYSTEMS, AND COMPUTER NETWORKS (EXCERPT)Act 53 of 1979752.796 Use of computer program, computer, computer system, or computer network to commit crime. Sec. 6.     (1) A person shall not use a computer program, computer,...

A drunk driving investigation, a car wreck and a blood draw

A drunk driving investigation, a car wreck and a blood draw

A Case Summary: People v. Blake Anthony-William BartonOn October 11, 2024, the Michigan Court of Appeals issued a decision in the case People of the State of Michigan v. Blake Anthony-William Barton. The case involved a drunk driving  investigation following a car...

Police say they can tell if you are too high to drive

Police say they can tell if you are too high to drive

Police say they can tell if you are too high to drive. Critics call it ‘utter nonsense’Haley Butler-Moore sped up to pass a semi on the highway when she suddenly saw the police lights. She’d left Albuquerque hours earlier, heading to a Halloween party in Denver. Tired...

Michael Komorn-Criminal Defense Attorney

About Your Attorney

Attorney Michael Komorn

Categories

Other Topics

Driving Under the Influence

Michigan

Your Rights

Michigan Court of Appeals

Law Firm VIctories

Share This