Law Firms Find Novel Ways To Reduce Risk Of Lateral Hires

Law360, New York (March 17, 2017, 5:40 PM EDT) -- Some BigLaw lateral partners are being forced to wait to share in the profits at their new firms when they first join, one of several strategies that experts say firms are increasingly using to mitigate the risks of lateral hires.

Rather than refraining altogether from bringing on laterals when faced with the risks involved with the legal industry's low retention rates, law firms are simply being more cautious in their approach so that they don’t get burned, performing more due diligence, using creative methods of funding and even bringing some equity partners on as salaried attorneys.

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