Law firm goes public

No longer is there a debate about whether a law firm is in business. It is clear that the answer is yes!

In Australia, a class action law firm has filed an IPO. This is the first for a law firm following new legislation in Australia that allows firms to raise funds on the public markets and allows non-lawyers to invest. A similar bill is under consideration in the United Kingdom.

While safeguards must be in place to prevent non-lawyers from practicing law, why shouldn’t they be allowed to invest in law firms just as they do in other professional service or manufacturing entities? As the proverb suggests, "these are interesting times."


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