Counting the Costs

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Reprinted and/or posted with the permission of Managing Partner Magazine (2009).

With all financial tools essentially already used in the quest to jack up profits and distributions in a competition for talent based on revenue per lawyer (RPL) and profits per partner (PPP), many firms have destroyed their financial foundations as well as the cultural ‘glue’ that holds them together when times are challenging. And they have built into their operating structures the mechanisms that not only make it easy to bring in talent, but also for talent to leave, further increasing entity fragility and leading to the increasingly commonplace sudden collapses of erstwhile icons of long-term professional stability that were created.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Edwin Reeser, Edwin B. Reeser, A Professional Law Corporation | Attorney Advertising

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