What is Your Law Practice Worth? An Interview with Jan L. Jacobowitz, Esq. of Legal Ethics Advisor – A Rules of Professional Conduct Perspective

In this interview, Jan L. Jacobowitz, Esq. of Legal Ethics Advisor discusses valuing the worth of a law firm from the perspective of rules of professional conduct for lawyers.

As Poock points out, law firms continue developing brand equity via omni-channel virtual marketing.

In the context of how state-by-state professional rules of conduct relate to law firm advertising, Jacobowitz advises: “You really need to check your state rules.”

“I'm not in any way saying to avoid social media . . . but you need to know what the rules are,” Jacobowitz states.

Jacobowitz, who co-authored Arizona and Utah Jumpstart Legal Regulatory Reform in November 2020, also discusses how several states have begun considering and even introducing the concept of non-lawyer ownership in law firms, including discussing changes that have already occurred to Rule 5.4 in Arizona, Utah, and Washington, D.C.

In the context of law firm worth, Poock and Jacobowitz discuss how non-lawyer ownership of law firms could introduce new investment opportunities into the legal professional while at the same time needing to ensure the best interests of clients.