UK Firm Ownership Shift Amplifies Calls For Reform In US

Law360, New York (November 9, 2011, 4:38 PM EST) -- New rules in the U.K. that take effect later this year will allow law firms to take money from outside investors and join forces with nonlawyers. Part of a three-year overhaul of the country’s legal industry, the move is meant to create one-stop shops where clients can go for both legal help and other advisory services, like engineering, information technology and financial consulting.

Those changes, along with reforms in Australia that have allowed law firms to go public since 2007, are ratcheting up calls for reform...
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