Big money is everywhere. More and more, we see private equity or other well-funded individuals and entities injecting themselves into anything capable of turning a profit. With the influx of capital, there is great opportunity but also great risk of losing the things that matter most.
The idea of non-lawyer partners in a law firm has gained steam. The American Bar Association continues to contemplate approval of the idea, as its most recent resolution discourages states from changing the ethics rules that disallow non-lawyer partners but simultaneously encourages state bar groups to experiment with ways to increase access to justice and make legal services more affordable. Certain states have done just that with changes that allow non-lawyers to have equity in law firms.
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