There You Go Again

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Televised debates between presidential candidates have produced few memorable phrases. One exception came in 1980, when Ronald Reagan, exasperated by Jimmy Carter's assertions, shook his head and declared, "There you go again." Members of the State Bar of California know the feeling exactly. Nearly two decades after the ABA adopted Model Rule of Professional Conduct 1.17 which affirmed that an entire practice could be bought or sold, and eight years after it modified the Rule in 2002 to permit the sale of part of a practice, the Bar has proposed four pages of changes to its rules on buying and selling a practice that make the process harder for both sides (see proposed rules). Among other things the proposals require the selling lawyer to divest all of a practice or field of practice, and to cease engaging in the private practice of law once the sale is complete.

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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.

© Ed Poll, LawBiz | Attorney Advertising

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