The prospect of taking law firms public is back on the agenda of the profession’s chattering class. Georgetown’s law school held a recent conference; Bruce MacEwen, writing as Adam Smith, blogged on the topic; even Above the Law’s David Lat weighed in with a mock prospectus for a New York firm.
But it’s not only talk. The partners at Slater & Gordon can check their share price on the Australian Stock Exchange. In the United Kingdom, the Legal Services Act gets closer to becoming law by the day, and, to paraphrase James Carville, various London bankers are preparing to drag hundred-pound notes through law firm car parks in the hopes of seeing who’ll sign on to a new bar order.
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