Abstract

http://ssrn.com/abstract=985351
 
 

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Law Firms, Ethics, and Equity Capital: A Conversation


Milton C. Regan, Jr.


Georgetown University Law Center

Bruce MacEwen


Adam Smith, Esq., LLC

Larry E. Ribstein (Deceased)


University of Illinois College of Law; PERC - Property and Environment Research Center


Georgetown Journal of Legal Ethics, Vol. 21, 2007

Abstract:     
This paper is an exchange among Bruce Macewen, Milton Regan and Larry Ribstein on the potential implications of pending legislation in the United Kingdom that would permit outside non-lawyer investment in law firms. Such ownership is forbidden by ethics rules in the United States, but the participants discuss whether the rules would permit a law firm to sell derivative securities reflecting the value of the firm. The discussion quickly expands into an analysis of the possible impact of publicly-traded law firms on the global market in legal services, the obligations of lawyers to their clients, the role of lawyers in sustaining a well-functioning legal system, and the self-understanding of lawyers as professionals. With significant change in law firm financing just over the horizon, the aim of the paper is to prompt a wide-ranging discussion about the future of the legal profession in a global economy.

Number of Pages in PDF File: 36

Keywords: non-lawyer, law firms

Accepted Paper Series


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Date posted: May 11, 2007  

Suggested Citation

Regan, Jr., Milton C. and MacEwen, Bruce and Ribstein (Deceased), Larry E., Law Firms, Ethics, and Equity Capital: A Conversation. Georgetown Journal of Legal Ethics, Vol. 21, 2007. Available at SSRN: http://ssrn.com/abstract=985351

Contact Information

Milton C. Regan (Contact Author)
Georgetown University Law Center ( email )
600 New Jersey Avenue, NW
Washington, DC 20001
United States
202-662-9414 (Phone)
202-662-9408 (Fax)
Bruce MacEwen
Adam Smith, Esq., LLC ( email )
305 West 98th Street
New York, NY 10025
United States
HOME PAGE: http://www.AdamSmithEsq.com
Larry Edward Ribstein (Deceased)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
217-244-9881 (Phone)
217-244-1478 (Fax)
PERC - Property and Environment Research Center
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States

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