It's illegal in most states for private equity to buy a law firm. Lawyers have figured out a workaround.

Source: Business Insider

 Getty Images; Tyler Le/BILegal ethics rules generally don't allow non-lawyers to own law firms. MSOs are a workaround to allow nonlawyers, including private equity firms, to effectively invest. Law firm owners can use the investors to scale, as well as for succession planning.

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