Survey on Intentions of UK Firms
As a mini-update to my post yesterday on the Legal Services Bill in the UK, here's a link to a survey of 51 of the top 100 UK firms showing their intentions to promote non-lawyer managers to partnership status. The survey results raise an intriguing question: what happens to the partnership tournament when there is an alternate path to partnership?
Don't make too much, by the way, of the results of the survey on external investment. First, the top 100 firms aren't where I'd expect to see external investment, particularly since many of those firms will worry about falling afoul of foreign regulators. Second, the big story in external investment will almost certainly be new entrants. By definition, innovators are not around to be surveyed yet.
(Hat tip to Bruce MacEwan of the superb Adam Smith, Esq., one of the best sources of information on law firm management.)