Picture lawyers idling away potentially billable hours tracking their firm's stock price rather than poring over their firm's PPP rankings or the results of the latest associate-satisfaction survey rankings. Sound far-fetched? It may happen soon in England if a draft bill that would allow outside investment in law firms and let firms go public makes it into law. And although the bill hasn't yet been the focus of too much hand-wringing in the United States, it is "on the radar screen," says one consultant.
England Poised to Reform Legal Market
August 10, 2006