ABA Solicits Comments on Alternative Law Practice Structures

Following the lead of the U.K. which has deregulated legal markets to allow non-attorney ownership in law firms, the ABA is correctly examining if we should follow suit on this side of the pond. Perhaps much like financial deregulation in the U.K. (the "Big Bang") in the Thatcher years, developments in the U.K. will spur U.S. markets (in this instance, the Legal market) to deregulate.

Changes are clearly afoot. As I previously posted, this Summer the Jacoby & Myers firm, filed a lawsuit in New Jersey challenging state bar ethics rules concerning non-attorney ownership of law firms.

http://blogs.wsj.com/law/2011/12/06/aba-inches-closer-to-vote-on-nonlawyers-owning-stake-in-firms/