Litigation firms are essentially law firms that try litigation cases in a court of law on behalf of a plaintiff or defendant. Litigation refers to the legal process of bringing a lawsuit or case to try or contest in a court of law. A litigation firm is run by a group of people, each one referred to as a law firm partner. It is the goal of most associates who enter into a law firm practice to become a law firm partner.
The process to become a law firm partner is tedious and lengthy. It takes years for an associate in a law firm to become a law firm partner. The process entails long work hours, most of which have to be considered billable. There are 2 general categories of law firm partners, one is equity and the other is a non-equity partner, although this general categorization is a simplification of law firm partners. These 2 general categories of law firm partners differ based on the amount of salary they receive, the benefits given to them, and the power of their position.
When an associate devotes years and time of effort into a law firm, he or she is often rewarded through a promotion. This promotion is often to a non-equity law firm partner. This means that the associate will only be entitled to better salaries and bonuses, but not equal to the status of an equity partner. An equity partner is part owner of the law firm and derives profits from his or her share of the law firm.