A proposed resolution working its way up the American Bar Association sounds innocuous enough, if not completely decipherable.
It calls for the adoption of “regulatory objectives for the provision of legal services” that would help “identify and implement regulations related to legal services beyond the traditional regulation of the legal profession.”
But those words are stirring alarm among some local bar groups, which say it poses a grave threat to their profession.
How’s that you may ask?
The context surrounding the controversy is the long-simmering debate among the legal establishment over allowing non-lawyers to own stakes in law firms.
With the exception of the District of Columbia, no jurisdiction in the country permits non-lawyer ownership of law firms. Those who favor lifting the restriction say it would expand consumers’ access to legal services, spur innovation and reduce the cost of legal help.
Read the whole story at Wall Street Journal