No matter how they became "of counsel" (either partners who "retire" or partners who lateral into a firm that doesn't automatically make them partners), "of counsel" usually refers to an attorney at the partner level who, for whatever reason, does NOT have an ownership share of the firm.
Quote from: Jacy85 on October 21, 2007, 03:32:55 PMNo matter how they became "of counsel" (either partners who "retire" or partners who lateral into a firm that doesn't automatically make them partners), "of counsel" usually refers to an attorney at the partner level who, for whatever reason, does NOT have an ownership share of the firm.I think that at big firms, "Of Counsel" are definitely not considered to be "at the partner level" except in terms of years having worked at the firm. At most large firms, "Of Counsel" are typically the folks that usually have no chance at becoming partners (haven't build their own client base, socially inept, rubbed people the wrong way, etc.). Often people will leave after becoming "of counsel" in hopes of lateralling somewhere else where they can become partner. People who are partially retired partners or partners who have gone part-time are often called Senior Counsel or something like that.Also, note that at many firms, especially large firms, there are 2 different levels of partners. Non-equity, or "income partners" don't have an ownership share of the firm while equity partners do hold a share of the firm.