denotes premium content | Nov 20 2008 Feature
posted 7 Mar 2008 in Volume 2 Issue 6
Case study: Barlow Lyde & Gilbert
Since the mid 1980s the position of partnership as the dominant legal entity of choice for ‘city’ businesses and professional firms has declined. To a great extent this decline is a result of simple market forces and regulatory changes at work but where will this take the law firm of the future and with what impact for those currently in partnership?
Within the same timeframe we have also seen significant changes to the lifestyle expectations of those within the professions. Achieving partnership is no longer the holy grail for all and as a result it is far less likely that talented individuals will remain with the firms they have been with for the entirety of their careers. For firms seeking to be successful within a highly competitive environment the answer must lie with shaping the model of partnership and the partner role to suit their specific current and anticipated business needs. One size will not fit all but firms that get this right will have a more motivated and aligned pool of senior talent than those who leave it to chance.
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