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Tales of Two Regimes for Regulating Limited Liability Law Firms in the U.S. and Australia: Client Protection and Risk Management Lessons


Susan Saab Fortney


Hofstra University School of Law

June 29, 2009

Legal Ethics, Vol. 11, No. 2, pp. 230-40, 2009
Texas Tech Law School Research Paper No. 2010-15

Abstract:     
This essay contrasts the regimes that allow limited liability partnerships in the US and fully incorporated legal practices in Australia. The essay argues that Australia has taken advantage of an opportunity to develop innovative and necessary regulation of law firm ethical infrastructure with the introduction of incorporated legal practices, but the United States has not yet adequately addressed the consumer and ethical risks of limited liability partnerships. This essay raises the issue of whether Australia’s requirement that incorporated law firms should implement “appropriate management systems” to ensure ethical conduct is a model that could fruitfully be applied to all law firms.

Number of Pages in PDF File: 12

Keywords: limited liability partnership, legal profession, incorporated law firm

JEL Classification: K19

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Date posted: June 30, 2009 ; Last revised: May 12, 2010

Suggested Citation

Fortney, Susan Saab, Tales of Two Regimes for Regulating Limited Liability Law Firms in the U.S. and Australia: Client Protection and Risk Management Lessons (June 29, 2009). Legal Ethics, Vol. 11, No. 2, pp. 230-40, 2009; Texas Tech Law School Research Paper No. 2010-15. Available at SSRN: http://ssrn.com/abstract=1427298

Contact Information

Susan Saab Fortney (Contact Author)
Hofstra University School of Law ( email )
121 Hofstra University
Hempstead, NY 11549
United States
516-463-4744 (Phone)

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