California has taken a step towards altering the role of lawyers after a state bar task force last week advanced controversial proposals for new ethics rules that would allow non-lawyers to invest in law firms and tech companies to provide limited legal services.
The new rules could open up Big Law firms, at least in California, to greater competition from “New Law” providers and the Big Four accounting firms that have been so far limited from practicing law in the U.S. They could also provide an avenue for law firms to receive outside investors to foster spending on tech or ...
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