Sunday, May 6, 2012
The ABA Commission on Ethics 20/20 will not recommend any changes to the ABA policy forbidding nonlawyer ownership in law firms. However, some countries and the District of Columbia do permit nonlawyers to be partners.
Opponents argue that permitting the practice would threaten the profession’s core values and would lead to external regulation of the legal profession. Proponents argue that nonlawyers already hold key management positions in law firms and that a change in the rules would regularize what is already happening.
The arguments pro and con are fairly complex. You can read this summary on U.S. Law Week online. I suspect that, like it or not, a change is inevitable, sooner or later.