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10 Prof. Law. 1 (1998-1999)

handle is hein.journals/proflw10 and id is 1 raw text is: II_ th Background Paper on Multiaiscipinary Practice: Issues and Developments ABA Commission on Multidisciplinary Practice In August, at the 1999 Annual Meeting, the House of Delegates will consider a report of the Commission on Multidisciplinary Practice on what has been termed the most important issue to face the legal profession this century - the expan- sion of professional service entities, principally accounting firms, into the practice of law. Because this development impacts every American lawyer as well as our colleagues around the world, the Commission's report and its dispo- sition by the House will be memorable events in the annals of the American Bar Association and the legal profession. It is far too early to even guess as to the content of the report, except to say that the Commission is not approaching this issue as a turf war but is attempting to develop recommen- dations that will provide guidance to the Bar and will allow the Bar to compete effectively in this new environment and at the same time protect the inter- ests of the public in all the traditional respects. To assist the House, the Board and Association members in preparing for the House debate, the Commission has prepared this informational paper concerning the development of multidisci- plinary practice and the important issues sur- rounding it that the legal profession must address. INTRODUCTION The delivery of legal services in the United States faces unprecedented challenges. Revolutionary advances in technology and information sharing, the globalization of the capital and financial services markets, and more expansive government regulation of commercial and private activities have reshaped client demands for legal advice and advocacy. As the Baby Boomer generation ages, individual clients more than ever before need coordinated advice from lawyers, financial planners, accountants, social work- ers, and psychologists. As the global economy expands, both Wall Street and Main Street business clients look to teams of professionals from different disciplines for consolidated advice on complex com- mercial and regulatory issues. Whether to permit multidisciplinary practice, and how to do it consistent with the protection of the pub- lic interest, is the subject of debate. On one side are the proponents of one-stop shopping who argue that restrictions on lawyer and nonlawyer partner- ships and the sharing of legal fees are outdated. In their view, these restrictions are the unfortunate relics of a regulatory system constructed in the early twen- tieth century that now impede the delivery of effi- cient and reasonably priced professional services. On the other side are the defenders of the restrictions who contend that they are necessary to preserve a lawyer's independent professional judgment and to protect client rights of confidentiality and loyalty. Adding to the complexity and urgency of the debate is the emergence of consulting firms that are aggressively soliciting clients, offering services remarkably similar to those traditionally offered by law firms, such as advice on mergers and acquisi- tions, estate planning, human resources, and litiga- tion support systems. The biggest of these consult- ing firms are closely affiliated with the Big-5 accounting firms and derive substantial benefit from the cross-selling initiatives of the account- ing/auditing partners. The rules that regulate lawyer conduct in some foreign countries permit various forms of lawyer/nonlawyer affiliations that are prohibited in the United States. As a result, the Big-5 accounting firms have vigorously entered Continued on page 4 Fall 1998 Volume 10 Issue Number 1

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