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In the United States this complete bar to nonlawyer ownership has been codified by the American Bar Association as paragraph (d) of Rule 5.four of the Model Rules of Professional Conduct and has been adopted in a single form or another in all U.S. jurisdictions, 1 2 except the District of Columbia. three However, D.C.’s rule is narrowly tailor-made to allow equity ownership only by these nonlawyer companions who actively assist the agency’s lawyers in offering authorized providers, and doesn’t enable for the sale of possession shares to mere passive nonlawyer buyers. The U.K. had the same rule barring nonlawyer ownership, but below reforms implemented by the Legal Services Act of 2007 legislation firms have been able to tackle a limited variety of non-lawyer partners and lawyers have been allowed to enter …
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