Signage is seen outside of the American Bar Association (ABA) in Washington, D.C., U.S., M...

ABA blesses some lawyer investment in alternative legal biz structures – Reuters

Signage is seen outside of the American Bar Association (ABA) in Washington, D.C., U.S., May 10, 2021. REUTERS/Andrew KellySummaryRelated documentsABA ethics committee opinion addresses "passive" investment in such businessesArizona, Utah have made regulatory changes as other states weigh moves(Reuters) - As some U.S. states begin to experiment with loosening up rules governing law firm ownership, lawyers elsewhere can take a stake in such ventures without running afoul of certain ethics rules, the American Bar Association said Wednesday.The new guidance comes as states push ahead with regulatory changes to shake up traditional law firm ownership and fee sharing rules. Utah and …

 

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