How can it be equitable that SH in listed law firms pay for what partners are given free? What are SH buying that is different? Wouldn't the lower cost structure of old style partnerships eventually win the race to be cheapest? It's not like partners will suddenly have to buy their shares. If case funding is required what is to stop any law firm approaching outside financiers so what function do SH perform?
The same applies for patent attorneys. Why pay for what is free to others?
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