In the US (except for the District of Columbia), non-law firms are prohibited from providing legal services and non-lawyers are prohibited from law firm ownership. In the meantime, law firms in Canada, Europe and elsewhere are taking advantage of their more lenient rules and regulations that allow for MDPs in their jurisdictions. Up until now, the ABA has repeatedly struck down MDPs in the US, but are things likely to change in the foreseeable future?
In this set of articles, Susan and her team break the subject into three areas:
- Part One: A Primer
This article provides some background on the topic, including the ABA’s historic position on MDPs.
- Part Two: Subsidiaries
This article discusses wholly-owned law firm subsidiaries, such as lobbying, wealth management, and real estate title services.
- Part Three: Integrated Multi-Disciplinary Practices
This one presents a much more comprehensive, integrated approach to provide a full array of professional services to clients, including recent efforts undertaken by Hogan Lovells and Duane Morris.
Although some large firms are testing the waters, we believe that fully integrated MDPS are not likely to be widely embraced by smaller and mid-size law firms in the foreseeable future.
Click here for Part One – A Primer
Click here for Part Two – Subsidiaries
Click here for Part Three – Integrated Multi-Disciplinary Practices