ABA Inches Closer To Nonlawyer Partner Option

Law360, New York (December 2, 2011, 8:23 PM EST) -- The American Bar Association's Commission on Ethics 20/20 asked for comments Friday on a discussion draft of a proposed change to the Model Rules of Professional Conduct that would allow nonlawyers to have ownership interests in law firms.

The proposed amendment to Model Rule 5.4 would allow nonlawyers to have stakes in firms as long as the sole purpose of the firm remains the delivery of legal services and the nonlawyers' services are limited to assisting the attorneys in delivering those services.

The rule change is...
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