More and more entrepreneurial lawyers and business people are attempting to change the way legal services are delivered using a two-company business model. In fact, the model is a workaround designed to enable lawyers and law firms to access capital, says Lucian Pera in a guest piece for Law Practice Magazine.
Lucian notes in his piece that liquid capital can be an issue for lawyers and law firms wishing to expand or adopt new technology, and potential investors want a return on investment if they're going to dip their toes into the law firm world. But is this type of investment forbidden? No, says Lucian, as long as the two-company structure is carefully planned and executed.
Read the full piece, in which Lucian examines ethics issues surrounding the two-company model and other ways New Law is poised to bring significant change to the delivery of legal services.