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0 pointsClumsyPilot4y ago0 comments

'One of the guild-like rules that often exists limitations in the types of organisation types lawyers can form.'

This makes little sence - How would the limitation that you are talking about even work?

The person at the top is not required to be a lawyer in the first place. There are plenty of corporate layers that work for public or private shareholder-held companies.

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kbutler4y ago

Lawyers can work for a corporate client, but those corporations can't offer legal advice to third parties.

Law firms that take on clients must be lawyer-owned.

"Under Attorney Rule of Professional Conduct 5.4, law firms are barred from offering ownership or other investment/revenue-sharing opportunities to non-lawyers. Some recent developments in several states, however, offer the possibility that these long-standing restrictions could be scaled back, creating potential for dramatic changes in how litigation matters are funded and managed."

https://www.thomsonreuters.com/en-us/posts/legal/practice-in...

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