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ABA Panel Gives Up On Nonlawyer Limited Ownership Proposal

published April 19, 2012

By Author - LawCrossing
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( 1 vote, average: 2.3 out of 5)
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04/19/12

ABA Panel Gives Up On Nonlawyer Limited Ownership Proposal

The American Bar Association's panel has decided not to allow limited nonlawyer ownership of law firms. ABA has made the decision based on four months of feedback from the legal community over the matter. ABA's Commission on Ethics 20/20 first announced the proposal in December 2011. The commission had proposed that nonlawyers employed in a law firm should be allowed to have minority financial interests and share in the law firm's profits. Currently, Washington D.C. is the only place where such an ownership structure is allowed.

published April 19, 2012

By Author - LawCrossing
( 1 vote, average: 2.3 out of 5)
What do you think about this article? Rate it using the stars above and let us know what you think in the comments below.

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