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The Value of a True Partnership

Our values are reflected not only in how we do business, but in how we are organized. Jones Day is a general partnership—a single, true partnership. We are not an LLP, or an LLC, or some other half-partnership/half-corporate entity. We do not have limited partners or limited liability partners. We are not a Swiss verein or joint venture. We do not have different "tiers" of partners, such as equity, non-equity, income, junior, or contract partners. We do not represent to our clients that the tiers of partners-in-title-only are truly partners. We are all partners. And, we act like partners.

While different from the approach taken by many other law firms, remaining a general partnership is an important part of how we serve clients. Our partners are responsible for each other’s net worth every day, with every piece of legal advice we give. This responsibility fosters a commitment to one another and reinforces the fact that we have collective duties—to clients, to the partnership, to our partners’ families, to all Jones Day employees, and to the continued success of Jones Day as an institution. Because one partner’s legal counseling can impact the entire Jones Day community, the whole partnership is invested in the advice. The whole partnership works to guarantee excellence. And, the whole institution works together to ensure the highest caliber of service.

Obviously, in some respects, it might be safer from the perspective of each individual partner to avoid the obligations that come with a general partnership. And, it would be easy to create a quasi-corporate structure to limit individual exposure to the Firm’s liabilities. But that is not who we are. We are committed to providing our clients with the best possible advice and service, and the knowledge that we all have this collective commitment keeps us relentlessly focused on our overarching objective. We understand that we are part of an institution that is larger than any individual partner, and that we are stewards of the Firm with a responsibility to the whole and to one another.