What if law firms didn’t have to be owned by lawyers? In the UK, non-lawyer ownership has been shaking up the legal industry for over a decade, bringing in private equity, corporate structures, and even stock market listings. But has it led to innovation or just new ethical dilemmas? Corinne Staves, a UK legal expert, joins Lawyerist Podcast to reveal the surprising ways this shift has (and hasn’t) transformed the profession.
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Chapters:
(0:00) Introduction & ABA TECHSHOW Announcement
(2:50) Meet Corinne Staves
(3:44) How Non-Lawyer Ownership Works in the UK
(6:03) Why the US is Afraid of Non-Lawyer Ownership
(8:41) Can Non-Lawyer Ownership Threaten Attorney Ethics?
(12:18) Unexpected Benefits of Non-Lawyer Ownership
(17:17) Does This Hurt Small Law Firms?
(20:31) Advice for US Lawyers Considering This Model
(23:20) The Future of Law Firm Ownership
