Outside Ownership Of Law Firms

My colleague Mitt Regan has an interesting piece in the current edition of The American Lawyer suggesting that equity ownership of outside investors in law firms might not bring on the death of Western civilization. Mitt suggests that adherence to a distinction between law as a profession rather than a business fails to acknowledge the reality that the practice has always been both. Professors Regan and Jeff Bauman are exploring this issue in their Center for the Study of the Legal Profession at Georgetown. (Mike Frisch)