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Bankruptcy law firm should IPO.

Law firms cannot be publicly listed in the US, they have to be owned by lawyers.

This idea was entirely new to me.

Here's the top Google result on the subject: https://abovethelaw.com/2021/05/will-we-soon-see-an-american...

Legal ethics rules in the US preclude a non-lawyer from controlling or supervising the legal judgment of a lawyer, which makes the notion of non-lawyer shareholders problematic.

Something similar pertains to organizations providing medical services. Must be run by an MD.

In the US, it is the opposite, since doctors are generally prohibited from owning hospitals.

https://www.cms.gov/Medicare/Fraud-and-Abuse/PhysicianSelfRe...

And buying healthcare provider groups has been very popular with private equity in the past decade, there is no requirement for owners to be doctors.

https://www.bloomberg.com/news/features/2020-05-20/private-e...

https://www.ineteconomics.org/perspectives/blog/er-doctor-pr...

Interesting link, thanks!

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