Tuesday, April 3, 2012
WSJ comment on issue of whether non lawyers should be allowed to own lawfirms
The issue of whether non-lawyers should be able to "own" (as in own investments in) law firms is back in the news. I reported on this most recently here. Today, The Wall Street Journal law blog has posted a short comment on the subject here. It explains that the main argument against allowing non lawyer ownership is that opening up law firm ownership will erode professional ethics, while the main arguments in favor or allowing it are that expanding ownership could help smaller law firms compete with the big firms, and that it could help make legal services more accessible to consumers.