Akin Gump's Move To All-Equity Partnership Could Catch On

Law360, New York (July 18, 2013, 6:19 PM EDT) -- Akin Gump Strauss Hauer & Feld LLP's move this week to an all-equity partnership is a sign more firm leaders may be recalculating the benefits and costs of their partner-in-name-only ranks, and eschewing restrictive bank loans in favor of cash readily available from partners, experts told Law360.

Next year, 75 income partners will convert to equity-holding, vote-carrying members, Akin Gump Chairperson Kim Koopersmith announced, saying this would boost each partner's commitment to the firm's success.

But beyond considerations of morale and dedication, experts say, firm leaders...
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