According to The American Heritage Dictionary, a meritocracy is a “system in which advancement is based on individual ability or achievement.” Many law firms pride themselves on operating as meritocracies embodied by this definition. Individual ability and achievement is carefully examined in future hires, and attorneys who have been deemed to be worthy of inclusion in law firms are rewarded and advanced based on their abilities as evidenced by their achievements in meeting billable hour requirements, generating revenues and contributing to a law firm’s overall profitability and reputation. Click to continue reading the full article.