Monday, 02 April 2012 10:23

Wall Street Journal on Non-Lawyer Ownership

Written by
Rate this item
(0 votes)

Today's Wall Street Journal features an article on the ABA's debate over nonlawyer investment in law firms. While the ABA is debating whether to allow minority-share investment by investors who take an active role in a law practice, Responsive Law is trying to push this debate away from these marginal changes to transformative changes that would allow law firms to raise sufficient capital for true innovation that would benefit consumers through lower prices, wider consumer options, and better service delivery. (See this post for our testimony to the ABA on this issue.)

The article quotes Responsive Law's Tom Gordon on the potential consumer benefit from models like those in Great Britain, where outside investment is allowed, and businesses that had not previously offered legal services are now poised to do so: "It's the people who can't pay $500 an hour but could pay a $500 flat fee for a divorce who would benefit."

Read 7990 times Last modified on Monday, 24 June 2013 14:07

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.