Our fourth question of the month. At this point, you know what to do.

As always, please use the comments box to add thoughts, glosses, and, well, commentary.

Is the prohibition against non-lawyers having an ownership interest in a law firm still a good idea?

  • No, because the prohibition impedes firms' ability to recruit talented business professionals who are increasingly necessary to address the complex business challenges firms are facing. (40%, 59 Votes)
  • No, it's an anachronism better suited to an earlier era. (24%, 35 Votes)
  • Yes, to ensure clients' interests and lawyers' professional judgment are insulated from conflicts of interest that can come with outside ownership. (19%, 28 Votes)
  • No, because it unfairly deprives law firms of access to alternative sources of capital and therefore limits their opportunities. (10%, 14 Votes)
  • Hard to say in the abstract: The only way to find out is to repeal the prohibition and let the market decide. (7%, 11 Votes)
  • Yes, because lawyers better understand the unique challenges of running a law firm. (0%, 0 Votes)

Total Voters: 147

Loading ... Loading ...

Related Articles

Email Delivery

Get Our Latest Articles Delivered to your inbox +

Sign-up for email

Be the first to learn of Adam Smith, Esq. invitation-only events, surveys, and reports.

Get Our Latest Articles Delivered to Your Inbox

Like having coffee with Adam Smith, Esq. in the morning (coffee not included).

Oops, we need this information
Oops, we need this information
Oops, we need this information

Thanks and a hearty virtual handshake from the team at Adam Smith, Esq.; we’re glad you opted to hear from us.

What you can expect from us:

  • an email whenever we publish a new article;
  • respect and affection for our loyal readers. This means we’ll exercise the strictest discretion with your contact info; we will never release it outside our firm under any circumstances, not for love and not for money. And we ourselves will email you about a new article and only about a new article.

Welcome onboard! If you like what you read, tell your friends, and if you don’t, tell us.

PS: You know where to find us so we invite you to make this a two-way conversation; if you have an idea or suggestion for something you’d like us to discuss, drop it in our inbox. No promises that we’ll write about it, but we will faithfully promise to read your thoughts carefully.