Puerto Rico Allows Non-Lawyer Ownership of Law Firms
Briefly

Puerto Rico's Supreme Court recently revised the rules governing attorney conduct, notably establishing a distinct rule on technology competence to reflect current legal practices. This moves away from the American Bar Association's model, which only includes technology requirements as a comment. Another crucial change is the revision of Rule 5.4, permitting non-lawyer ownership interests in law firms under certain conditions. This places Puerto Rico among a small number of jurisdictions, potentially transforming the legal landscape and accessibility of legal services.
"Puerto Rico's Supreme Court has introduced a new set of professional conduct rules, notably mandating technology competence for lawyers, reflecting the evolving legal landscape."
"Unlike the ABA, which merely comments on technology competence, Puerto Rico created a distinct rule underscoring the importance of staying current with technological advancements in legal practice."
"The revision of Rule 5.4 now permits non-lawyers to hold ownership stakes in law firms, a significant change that could reshape the structure of legal practices in Puerto Rico."
"This move aligns Puerto Rico with only a few jurisdictions in the United States, such as Arizona and D.C., marking a potential shift in how legal services are provided."
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