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Debating Nonlawyer Ownership of Law Firms
Lawyers love a debate, and it looks like a doozy is set concerning nonlawyer ownership of law firms (NLO). While the ABA Commission on the Future of Legal Services appears poised to request that ABA delegates adopt “regulatory objectives” which could permit NLO, the president of the New York State Bar Association, David P. Miranda, has requested that New York lawyers just “Say No to Nonlawyer Ownership (NLO),” New York State Bar Association Journal at 5 (January 2016).
This article briefly sets out the current state of the law, address some of the arguments on both sides of the issue, and offer some observations on what, if anything, can be done to address the points made by both camps.
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