N.Y., Others Mull Moves to Allow Companies to Co-Own Law Firms

New York and Illinois are joining a growing list of states considering legal system rules changes that could give companies more opportunities to compete with law firms.

Connecticut, North Carolina, and Florida are exploring similar moves designed to boost low-income consumer access to legal services. The changes may pave the way for more nonlawyer co-ownership of law firms and open the market to Big Four accounting firms and technology companies.

“Large barriers have been removed for these issues to be normalized,” said Zack DeMeola, director of legal education and the legal profession for the Institute for the Advancement of the ...