Sentences with phrase «nonlawyer partners»

[3] However, D.C.'s rule is narrowly tailored to allow equity ownership only by those nonlawyer partners who actively assist the firm's lawyers in providing legal services, and does not allow for the sale of ownership shares to mere passive nonlawyer investors.

For that reason, we do not know how many D.C. firms have nonlawyer partners.

The rule in the District allowing nonlawyer partners has been in effect since 1991.

The most I can say is that we do field a few of these calls each year, so we know that there are some lawyers out there who have nonlawyer partners or individuals in supervisory positions.

In my personal opinion, the District's experience with Rule 5.4 has been disappointing in its ability to serve as a «model» or «pilot» because it appears very few law firms have nonlawyers partners or managers.

That being said, a firm can not keep secret the fact that it has a nonlawyer partner.

For these reasons, few DC firms feel comfortable enough that they can bring in a nonlawyer partner without breaching an ethical rule of some kind, somewhere.

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.

Not exact matches

Money is too powerful and the nonlawyer string pullers would demand financial coverage, not just for our current costs of (a) overhead, (b) income to the lawyer, and, if you are in a firm large enough to be subject to billing targets set by management / compensation committees, (c) return to the partners, but also (D) profits to the string pullers.

As a partner at Schillings, even though I am not a lawyer, I am approved and authorised by the SRA (Solicitors Regulation Authority) to be a nonlawyer manager.

The comment references Model Rule 5.1 (Responsibilities of Partners, Managers, and Supervisory Lawyers) and Model Rule 5.3 (Responsibilities Regarding Nonlawyer Assistants), which are also important in attorneys» use of technology.

Many persons have argued that permitting nonlawyers to own shares in or to manage a law firm, or allowing a lawyer to partner with a non-lawyer in a multidisciplinary practice, will lead to the loss of professionalism.

There has been little movement on the Rule although the ability to partner with a nonlawyer has existed in the District of Columbia since 1991.

For example, if a firm lists its partners on its letterhead or on its website, then the nonlawyer's name must be included, or that would be considered a misrepresentation or omission in violation of Rules 7.1 and 7.5.

(4) the lawyer partners in the law firm are responsible for these nonlawyers to the same extent as if the nonlawyers were lawyers under Rule 5.1;

(6) the lawyer partners in the firm make reasonable efforts to establish that each nonlawyer with a financial interest in the firm is of good character, supported by evidence of the nonlawyer's integrity and professionalism in the practice of his or her profession, trade or occupation, and maintain records of such inquiry and its results; and

With entity regulation, we can move toward permitting lawyers to partner with nonlawyers, and allowing law firms to accept capitalization from other sources.

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.

The Chicago - based group is led by a board that includes academics, law firm partners, corporate counsel, government attorneys, and nonlawyers, and it receives financial support from law firms, corporations, bar associations, and individuals.