AZ Okays Nonlawyer Ownership of Law Firms

This is huge. The LegalTech Fund has been covering changes in regulatory frameworks for a while (check out Nates News and our briefings) as this will open up the onramp for innovation!

“Arizona’s elimination of ethics rule 5.4, which bars nonlawyers from having an economic interest in a law firm, is accompanied by a framework to license these new businesses, called “Alternative Business Structures.”

Bloomberg article

Lots more to come on this one at legaltech.com.

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