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Several big law office have transferred to a two-tiered collaboration model, with equity and non-equity companions Equity companions are considered to have possession risks in the company, and share in the earnings (and losses) of the company.

Restricted liability partnership (LLP), in which the attorney-owners are partners with each other, but no companion is liable to any lender of the law practice nor is any type of partner liable for any type of neglect for any kind of other companion.

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