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Commentary: Nonlawyer Ownership of Law Firms Might Not Cause the Sky to Fall

2007-08-14

When Australian law firm Slater & Gordon held a public stock offering, many thought it'd be the end of the law profession as we know it. Now there's legislation in the U.K. that will permit firms there to issue stock. Georgetown professor Milton Regan Jr., however, says law practice is a profession and a business, not a profession or a business, and like it or not, potential competitive pressures mean that we're going to have to confront the question of nonlawyer ownership sooner rather than later.

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