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Numerous big law practice have relocated to a two-tiered collaboration version, with equity and non-equity companions Equity companions are considered to have possession stakes in the firm, and share in the revenues (and losses) of the firm.


Minimal responsibility partnership (LLP), in which the attorney-owners are partners with one another, yet no companion is liable to any type of financial institution of the law practice neither is any type of companion accountable for any negligence for any type of other companion.

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