<p>For instance, if a law firm partner (e.g. this one: Law</a> Firm Of Pepper Hamilton LLP | Michael P. Subak) wins a huge settlement such as $1 billion for a client, after that trial does he get to take home any of that; or are the winnings given to the firm as a whole, and then the respective lawyer still only primarily takes home his or her firm salary (which, excluding bonuses, is usually the same salary given to members of the same 'class' at the firm -- e.g. Associates; Partners)? </p>
<p>And I do understand and agree that the firm salary can still be very generous, like those at NLJ 250 firms and others. I was just curious if there's instances where BigLaw/other types of firms' partners earn other profits through winning specific individual cases given to the firm [and then obviously to the lawyer(s) at the firm who take it to court]). </p>
<p>Are there any special arrangements commonly made for big cases taken on by BigLaw partners? If not, is this a huge reason why some partners would want to leave their given BigLaw firm and start their own private practice?</p>
<p>Every firm has its own set of rules and policies. Typically, a partner with a lot of portable business will have a sweeter deal than others at the same firm, because firms understand that rainmakers can depart for the competition at any time. Tweaking these policies is a big way that firms recruit lateral partners. As a result, the trend over recent decades has been towards an “eat what you kill” system where partners keep more of what they bill.</p>
<p>Agree with above, also keep in mind that typically in large business disputes, these are not contingency fees deals where the client has agreed that the lawyer gets a specific percentage of any recovery. Instead, the client is paying fees to the firm on a billable hour or some other basis. If a commercial litigator achieves a good settlement or award for the client, that amount goes to the client. Fees are paid separately throughout the handling of the dispute. A good result for clients will be a significant part of a partner’s partnership draw, causing them to be moved to the highest “tiers” of compensation. </p>
<p>Overall, keep in mind, most large firms do not represent clients on a contingency fee basis
so that the size of the recovery is not specifically how the lawyer gets paid.</p>