Partnerships only involve a few select attorneys at a firm, associate attorneys, paralegals, legal assistants, and every other role is not part of the partnership, and has no stake other than their vested interest in getting their paycheck (the same as any employee).
“Big Law” firms have thousands of employees excluded from any partnerships including billable (associates, paralegals) and non billable (legal assistants, HR, IT) staff, the partnership is more of a private ownership club where people are accepted mostly on vibes and sometimes, rarely, on merit.
The partnership structure is pretty antithetical to socialism, since it’s structured in a way to exclude people deemed not worthy of receiving profits (But still somehow needed to make the profits??).
TL;DR: a small group of owner operators within a larger company is decidedly capitalist.
Law firms are so so so not socialist.
Partnerships only involve a few select attorneys at a firm, associate attorneys, paralegals, legal assistants, and every other role is not part of the partnership, and has no stake other than their vested interest in getting their paycheck (the same as any employee).
“Big Law” firms have thousands of employees excluded from any partnerships including billable (associates, paralegals) and non billable (legal assistants, HR, IT) staff, the partnership is more of a private ownership club where people are accepted mostly on vibes and sometimes, rarely, on merit.
The partnership structure is pretty antithetical to socialism, since it’s structured in a way to exclude people deemed not worthy of receiving profits (But still somehow needed to make the profits??).
TL;DR: a small group of owner operators within a larger company is decidedly capitalist.