I was asked this question the other day in relation to the compensation system for a legal partnership. Many partnerships adopt broadly similar systems but they come with lots of different nuances. One of the biggest issues is whether to make it open or closed. Can all the partners see what each other partner earns each year, or is it closed and only the individual partner and the Managing Partner and whatever group of partners make up the compensation committee know? Can you say that one system is better than another?