Question of the Week from ABA
We want to hear from you
Is nonlawyer ownership of law firms long overdue? Or a bad idea?
This week, we noted that until Monday, May 2, the ABA is seeking comments on an issues paper that considers the risks and benefits of alternative business structures allowing nonlawyer ownership of law firms—which is currently permitted in the United Kingdom, Australia, and to a limited extent in Washington, D.C.
Nonlawyer ownership could increase capital for law firms and help them strengthen their management teams with nonlawyers. But there are concerns that nonlawyer ownership will threaten lawyers' independent professional judgment.
The debate has been raging for years. This week, we'd like to ask you: Is nonlawyer ownership of law firms long overdue? Or a bad idea?
Answer in the comments.
Read the answer to last week's question: What are some tech tools that have changed your law practice?
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