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Law Firms, Ethics, And Equity Capital: A Conversation, Georgetown University Law Center, The Center For The Study Of The Legal Profession
Law Firms, Ethics, And Equity Capital: A Conversation, Georgetown University Law Center, The Center For The Study Of The Legal Profession
CSLP Papers & Reports
The correspondence collected here represents an effort to start a conversation. Pending legislation in the United Kingdom, based on what is known as the Clementi Report, would permit non-lawyer equity investment in law firms, subject to regulatory oversight. In other words, UK law firms could become publicly-traded businesses. This legislation has been proposed as part of reforms heralded as improving the delivery of legal services to consumers. By contrast, such investment in law firms is forbidden by ethical rules in the United States. What will happen when the two countries with the most dominant global law firms begin to move …