Up or out is down and out in law firms

By Murray Gottheil ( June 11, 2026, 12:56 PM EDT) -- Back when law was primarily a profession, and only incidentally a business, if you were not invited to become a partner in your law firm after seven years or so, you were expected to hang your head in shame and slink out of the firm. The system was called “Up or Out.” You either graduated to partnership, or you left the firm....