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What’s New in Law Firm Ownership?

Attorney at Work

Depending on your point of view, there’s either lots new or “not so much” new with law firm ownership. Most lawyers are familiar with Rule 5.4 In a nutshell, it says that lawyers must own law firms. New Developments in Law Firm Ownership. as they relate to nonlawyer ownership of firms.”.

Law Firms 305
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Law Firm Marketing Regulation: What’s Hot and What’s Not — a Tribute

Attorney at Work

I lack both the breadth and depth of his knowledge and tend to more narrowly focus here on law firm marketing and its regulation. Red Hot Law Firm Marketing Trends. The first wave of law firm marketers were often high-performing administrative staff. For-profit lawyer referral services.

Law Firm 300
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Eye of the Storm: How Will Alternative Business Structures Affect Traditional Law Firms

NCBA Law Practice Management Blog

Arizona has recently stricken the rule barring non-lawyer ownership in law firms from its professional ethics code. Utah is creating a sandbox environment to explore the same option. It’s only a matter of time before the traditional lawyer monopoly is broken. This is the eye of the storm.

Law Firm 130
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Is Walmart Targeting Your Law Firm? What Alternative Business Structures Will Mean for Small Firms

NCBA Law Practice Management Blog

Small law firms generally have it pretty good, in that they’ve mostly had to compete only against other small law firms, that aren’t particularly innovative either , and that also don’t spend money aggressively to build their businesses. So, yes: Walmart can open law firms. That’s a whole new ball game.

Law Firm 130
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Arizona’s Alternative Business Structure Program Improved Access To Justice For Tort Victims And Possibly Large Companies

Above The Law

In 2020, the Arizona Supreme Court established its Alternative Business Structure (ABS) program which allows nonlawyers to have an economic interest or decision making authority in a law firm. A few days ago, the Big Four accounting firm KPMG applied for Arizonas ABS license. The task force report doesnt provide an answer.

Tort 116
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ABA Issues Ethics Guidance On Lawyers Investing In Alternative Business Structures

LawSites

With both Arizona and Utah now allowing nonlawyers to deliver legal services through alternative business structures, the American Bar Association today issued a formal ethics opinion that addresses the question of whether lawyers outside those states may passively invest in an ABS. may the lawyer passively invest in an ABS?

Lawyers 139
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Why Regulatory Reform Is Desperately Needed in the U.S.

Attorney at Work

Regulatory reform is needed to make sure there is coverage for “legal deserts” where citizens have access to few or no law firms. million lawyers in the United States. Nationwide, there are approximately four lawyers for every 1,000 residents, but the number doesn’t reflect the reality. There are 1.3

Bar Exam 164