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The practice of law is a business. Typically, partners in a law practice are responsible for keeping the firm afloat through bringing in business. Because partners are expected to bring in money for their firms, making partner in a law firm is no longer the lifetime guaranteed employment it once was.
Sometimes, firms need to make difficult decisions about the roles of partners, whether it is downgrading their role from an equity to a non-equity position, or asking the partner to leave the firm. Firms can also ask partners to leave for other reasons.
Asking partners to leave the firm imposes risks for both the law firm and the departing partner. Because of the firm's ethical, legal, financial and professional responsibilities, there are certain steps the firm should take.
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