The Practice of Law: Deregulate or Redefine?

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The ABA and state bar associations have worked together to create unnecessary barriers to entry into the legal profession—things like accreditation requirements for law schools, licensing requirements for attorneys, and restrictions on the ownership of law firms by non-attorneys. These artificial restrictions on the free market have prevented competition, stifled innovation, and kept costs high for consumers.

This is the position set forth in a recent Wall Street Journal editorial on the deregulation of the practice of law.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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