Florida Joins States in Testing Law Firm Ownership Models (1)

Florida plans to test new law firm ownership models, boosting competition among a handful of states that are racing to make legal systems more cost efficient and accessible to consumers.

Florida’s test, which is still in the early stages of development, would “eliminate the current restriction that limits a lawyer’s ability to decide with whom the lawyer associates,” a report from a Florida Supreme Court committee said. Firms, however, wouldn’t be required to offer non-lawyers an equity interest.

The Law Practice Innovation Laboratory Program, as the Florida committee calls the effort, was approved “in concept only,” the report said. The ...