Ethics Rule 5.4 in Arizona | Phillips Law Group
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- Ethics Rule 5.4 in Arizona | Phillips Law Group
Arizona recently made history when it became the first state to allow non-lawyers to obtain partial ownership of law firms, previously prohibited by Ethics Rule 5.4. Effective January 1, 2021, these new measures will allow lawyers to partner with non-lawyers, opening up a wide range of opportunities for the public, investors and attorneys.
Referred to as an Alternative Business Structure (ABS), these new kinds of entities are the first in recent U.S. history to grant non-lawyers the right to invest in a business that supplies legal services. The direct result of a unanimous vote in the Supreme Court, these changes aim to make legal services more affordable and available to the general public. Through increased capital and streamlined operations that will result from non-lawyer firm ownership, legal entities will be able to lower their costs and advance technological innovation more rapidly. This will make it possible for critical legal services to be more widely accessible to the American public in the near future.
Although there are reasonable concerns that non-lawyer firm ownerships could result in less business for small firms, we believe attorneys will continue to be successful by adapting and transforming their practices to differentiate themselves through originality, authenticity, and local referrals. We feel these new measures will give businesses the opportunity to refine their strategies, establish trust and build longstanding relationships. Non-lawyer law firm investment opportunities are already commonplace around other parts of the world such as Australia and the United Kingdom.
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Jasmine , did a great job . Highly recommend!!!!!
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I was recently served court documents that I was being sued from an accident that happened years ago. For someone who has never been through something like this and not familiar with the court lingo or where to even begin, it was very frustrating and stressful. I reached out to a family member who knew Tracy Laskos and the great reputation of Phillips Law Group and within the hours of the initial call for help, I had a direct number to Lead Attorney Nassar. Nassar heard my case and almost instantly put me at ease by explaining the process and how easy it was to handle. Nassar spoke to me like he was a friend, not like I was a client. I am so grateful to Tracy, Nasar and of course my cousin Stephanie for helping out and giving me the direction that I needed to get through this situation. I plan on referring my friends, family and patients that are in need of a personal injury Attorney to Phillips Law Group. Thank you!!
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Jon Jamieson was amazing to work with . He came through with all of his promises.
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Phillips law group is a great firm! Caroline is great.
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Great company and awesome service. Thanks Caroline fabos. Kudos to all.
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Phillips is the best!! Love all that they do to give back to the community and how much they help those who are experiencing homelessness. ❤️
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Sophia H. at Phillips Law Group has been an absolute joy to work with -quick, responsive, and professional in every interaction. Her breadth of knowledge, from administration to IT to finance, is nothing short of impressive.
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Sophia H is very helpful.
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Many companies talk about teamwork but few practice it. Many companies talk about an employee friendly environment but few actually provide it. At Phillips Law Group the foundation of our success is making sure we work as a team and that we work in an environment that allows everyone to thrive and be at their best every day. Our firm understands that in order for the client to have a great experience the people responsible for that client’s case must be given all the necessary tools and encouragement to make that happen. That’s the Phillips Way. As a manager of this firm in charge of several employees as well as directly affecting the client’s experience I take tremendous pride in saying we live by these premises and we work hard to build on them and make them better every day. This is an amazing place because it has amazing people working here!