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Basic Rules Regarding Recruitment and Compensation of Lateral Partners

Few areas have more potential for internal criticism and strife than determining the appropriate compensation level for lateral partners. And even large firms that recruit tremendous numbers of lateral partners can have a hard time figuring out how to attract and compensate these new owners. The difficulties in compensating lateral partners vary depending on the compensation system employed at each firm, so the tried-and-true tactics outlined below should be helpful to law firm leaders who need ideas for recruiting and compensating lateral partners:
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