The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Defining exactly what a partner is has become increasingly difficult in recent years, particularly since LLP status gained acceptance among law firms.
Every firm has a slightly different definition. Equity, fixed share equity, salaried, junior equity - the list goes on and on.
But we can now, thanks to the Court of Appeal, be sure that if someone contributes money to a firm, no matter how small an amount, they are categorically not an employee.
In a crucial ruling (see story) today a three-strong panel said Lester Aldridge had not unfairly dismissed a fixed share member of its LLP because he was not an employee.
Dismissing - firmly but politely - the arguments of appellant Martin Tiffin, the Court of Appeal said it did not matter that Lester Aldridge’s fixed share partners contributed only a small amount of capital to the firm or held only a small proportion of voting rights. What was important was that they did have a stake in the business and had signed a members’ agreement, not an employment contract.
In other words, a partner is a partner is a partner.