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Post by mbabeav on Apr 7, 2020 9:56:12 GMT -8
I was talking to a lawyer friend, and she told me legal firms can't be corporations. That was depressing, because I was thinking that if I could invest in a large firm specializing in business bankruptcies, i would be set for life..... Seriously tho, I anticipate a lot of those commercials on tv for law firms that handle Chapter 11 and 7 bankruptcies starting soon. I hope I am wrong, I really do.  |
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Post by beaverdude on Apr 7, 2020 10:33:37 GMT -8
I was talking to a lawyer friend, and she told me legal firms can't be corporations. That was depressing, because I was thinking that if I could invest in a large firm specializing in business bankruptcies, i would be set for life..... Seriously tho, I anticipate a lot of those commercials on tv for law firms that handle Chapter 11 and 7 bankruptcies starting soon. I hope I am wrong, I really do. I think you got some bad info. Choosing a Business Structure for Your Law Firm
I expect a large volume of personal bankruptcies too. |
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Post by mbabeav on Apr 7, 2020 11:28:27 GMT -8
I was talking to a lawyer friend, and she told me legal firms can't be corporations. That was depressing, because I was thinking that if I could invest in a large firm specializing in business bankruptcies, i would be set for life..... Seriously tho, I anticipate a lot of those commercials on tv for law firms that handle Chapter 11 and 7 bankruptcies starting soon. I hope I am wrong, I really do. I think you got some bad info. Choosing a Business Structure for Your Law Firm
I expect a large volume of personal bankruptcies too. Will have to be checking around |
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Post by Judge Smails on Apr 7, 2020 16:10:20 GMT -8
Will have to be checking around checking around for law firms to invest in? I don't believe law firms can take on outside, non-lawyer, investors, which is probably what your lawyer friend was talking about rather than that law firms can't be corporations. Those are two different things/concepts. That is correct, no outside investment. And most of them are P.C's (professional corporations) which is a form of a C-corp |
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Post by mbabeav on Apr 7, 2020 19:27:13 GMT -8
checking around for law firms to invest in? I don't believe law firms can take on outside, non-lawyer, investors, which is probably what your lawyer friend was talking about rather than that law firms can't be corporations. Those are two different things/concepts. That is correct, no outside investment. And most of them are P.C's (professional corporations) which is a form of a C-corp OK, makes more sense now - she had said that they didn't allow outside investors. |
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