Sentences with phrase «limits nonlawyer ownership»

And not just the kind that limits nonlawyer ownership to less than 49 %, but the kind that imposes no such restriction.

Not exact matches

Save for one exception, the District of Columbia is the only jurisdiction in the U.S. that under very limited circumstances actually permits ownership or management of a law firm by nonlawyers.

In sum, even though the Report mentions alternative structures only briefly, and expressly advocates for only a limited form of them (minority nonlawyer ownership) in a lukewarm manner, a close reading the Report suggests that its authors in fact enthusiastically support alternative structures.

In this context, the Commission called for comments on the «potential benefits and risks associated with ABS,» as well as «evidence or other input» on the relative advantages and disadvantages of different types of ABS (for example, with limits on the percentage of nonlawyer ownership and / or multidisciplinary practices).

In essence, the options were either (1) limited lawyer / nonlawyer partnerships with a cap on nonlawyer ownership and the nonlawyers would be subject to a «fit to own» test, (2) lawyer / nonlawyer partnerships with no cap on nonlawyer ownership but the firm could provide legal services only (no multidisciplinary services) and the nonlawyer partner (s) would be required to perform services for the firm (they could not be passive investors; as discussed further below, this option was considered to be the «DC approach»), or (3) the same as Option (2) except the firm could offer multidisciplinary services.

At its meeting on April 12 - 13, 2012, [40] the [Commission] decided not to propose changes to the ABA policy prohibiting nonlawyer ownership of law firms... The Commission considered the pros and cons, including thoughtful comments that the changes recommended in the [December 2, 2011 paper] were both too modest and too expansive, and concluded that the case had not been made for proceeding with even a form of nonlawyer ownership that is more limited than the D.C. model.

The U.K. had a similar rule barring nonlawyer ownership, but under reforms implemented by the Legal Services Act of 2007 law firms have been able to take on a limited number of non-lawyer partners and lawyers have been allowed to enter into a wide variety of business relationships with non-lawyers and non-lawyer owned businesses.