Financial investors are currently not allowed to invest in law firms in Germany, but abroad they are.
(Photo: Photodisc/Getty Images)
Frankfurt So far, lawyers in Germany have been something like pharmacists. Only a pharmacist can run a pharmacy, but an optician can also sell his business to an investor and be employed by him. Should lawyers be more like optometrists?
The Bavarian Lawyers’ Court (BayAGH) has now submitted a case to the European Court of Justice (ECJ) that could make legal history. The Bavarian judges want to clarify the fundamental question of whether the so-called third-party ban on law firms in Germany violates EU law.
If the ECJ came to this conclusion, it would be a revolution in the German legal market. But the case is fraught with pitfalls.
That is at stake for the lawyers
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Further