Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Subjective And Objective Compensation Systems
As we sift through the results from our recently published Partner Compensation System Survey, the data draws us to consider a wide variety of questions about this vitally important management and leadership system. One critical question that deserves somewhat more detailed consideration is the basic structures of the systems used in the legal world today. While the majority of our survey respondents report using some form of subjective system, about 15% of the firms report that they use a purely formulaic/objective system.
From a theoretical or normative perspective, there is no “right” or “wrong” system. Each option has its strengths, weaknesses and applicability to any given firm's culture, leadership style, and the behaviors that the leaders want to incentivize and reward. Systems that will work well in one firm would fail abysmally in others, and we generally find that even many systems that look very much alike “on paper” are somewhat different in application.
We always enjoy listening to Partners who suggest changes to their compensation system because they hear that some feature works well elsewhere, and assume that if they were to adopt whatever feature they are touting, all the firm's issues would be resolved. While sometimes true, this is hardly a given, which explains why compensation systems vary among firms more than perhaps any other management system.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.