Australian law firm Slater & Gordon set a new trend by becoming the world’s first law firm to list itself on a stock exchange.  The move has left senior partners of the firm immediately richer by an amount of $4 million, if reports are to be believed.  In U.S., rules of ethics keep firms from selling equity shares to non-lawyers.  Further, law firms generally shy away from listing themselves on the stock exchange, or going public for disclosure requirements that conflict with client confidentiality.  However, if a middle way could be found, I have no doubt that it will provide a big boost to the legal industry.  Meanwhile, in UK the Carter, Clementi, and the Legal Services Bill holds out hopes for alternative legal structures for law firms and introducing multidisciplinary ownership.  If non-lawyer ownership in law firms proves out to be an acceptable alternative in other parts of the world, then U.S. would not be left far behind.  I can’t even start to imagine what such changes portend.