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'One of the guild-like rules that often exists limitations in the types of organisation types lawyers can form.' This makes little sence - How would the limita
by ClumsyPilot 4y ago
'One of the guild-like rules that often exists limitations in the types of organisation types lawyers can form.'
This makes little sence - How would the limitation that you are talking about even work?
The person at the top is not required to be a lawyer in the first place. There are plenty of corporate layers that work for public or private shareholder-held companies.
- kbutler 4y agoLawyers can work for a corporate client, but those corporations can't offer legal advice to third parties. Law firms that take on clients must be lawyer-owned. "Under Attorney Rule of Professional Conduct 5.4, law firms are barred from offering ownership or other investment/revenue-sharing opportunities to non-lawyers. Some recent developments in several states, however, offer the possibility that these long-standing restrictions could be scaled back, creating potential for dramatic changes in how litigation matters are funded and managed." https://www.thomsonreuters.com/en-us/posts/legal/practice-innovations-april-2022-non-lawyer-ownership/ https://www.thomsonreuters.com/en-us/posts/legal/practice-in...