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Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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Can a tennessee lawyer maintain an ownership interest in

Customer Question

can a tennessee lawyer maintain an ownership interest in more than one law firm, whether or not they are competing for a share of the market?
JA: Has anything been filed or reported?
Customer: a shareholder in one firm, suing to take control of that firm, set up a competing law firm 5 days ago, after he lost a bid to take over all the stock and the matter was set for trial for september 2017
JA: Because laws vary from place to place, can you tell me what state this is in?
Customer: tennessee
JA: Anything else you want the lawyer to know before I connect you?
Customer: nope. i am subscribed to the service already, but didn't see the login button. i may have missed it i am already a monthly subscriber
Submitted: 7 months ago.
Category: Legal
Expert:  INFOLAWYER replied 7 months ago.

Hello and welcome. I am working on your answer and will be right back!

Expert:  INFOLAWYER replied 7 months ago.

As a general matter, yes. That said, most law firms are subject to a shareholder or operating agreement governing the relations of the partners. That document could limit a partner's abilities to be a partner in another firm, but absent an express provision there, one could be a partner in more than one firm. It is highly unusual and uncommon. More common is a lawyer who has a solo practice and is also a partner at another firm.

Expert:  INFOLAWYER replied 7 months ago.

Let me know if that is fast and clear.