nice model, now leave
TRANSCRIPT
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Nice Model, Now Leave.Potential Impact of Choice of Law in an
ABS World
James PetersVP, New Market Initiatives
LegalZoom.com
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Liberalizing Legal Services
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“we think our bars should join forces in order to express our common stand on the international scene.”
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“The proposed reforms are plainly inconsistent with the Core Principles of the Legal Profession.”
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?
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$270 BILLION
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Time Magazine: July 25, 1994
VA LEO 1584:April 11, 1994
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What about today?
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Sort of…
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£$
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£
$A lawyer shall not be subject to
discipline if the lawyer’s conduct conforms to the rules of
a jurisdiction in which the lawyer reasonably believes the
predominant effect of the lawyer’s conduct will occur.
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£
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“North Carolina could become to law firms what Delaware is to corporations.”
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"Every day, all round the world, the two legal systems battle it out to be the governing law, for example on commercial
contracts. So any advantages that UK law has to win against US law, the better. Arguably this is good news for UK law, to
see the US being so backward."
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Possible Results• States lose:oLegal jobsoTax revenueoRegulatory control
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More Change Pending?