For most of American history, a law firm could only be owned by lawyers. That is beginning to change. Arizona and other jurisdictions now permit non-lawyer ownership.
Private equity — having already taken over hospitals and with them the healthcare field — is studying our profession closely. Even where outright ownership remains barred, investors have found workarounds, buying the “business side” of firms while lawyers keep the letterhead.
I understand the appeal of outside capital. It promises scale, technology, and efficiency. But it forces a question every firm should have to answer out loud: who will come first — the client or the investor?
For a values-based firm, that question isn’t close.
I created my firm with the express purpose to be a force for good. Our mission is to obtain full justice in life-changing injury and wrongful death cases. The “why” at the heart of that mission sits the values which define us: upholding the rights and dignity of those who have been harmed; an unwavering commitment to professional excellence; providing clients extraordinary personal service and respect; ensuring that the people who need us find us; and improving the lives and safety of our community. These aren’t words on a wall. They decide which cases we take, which causes we pursue, and which “opportunities” we decline.
A pure business approach takes lawyers down a different path. When the goal is maximizing shareholder return, the incentives shift — settle quickly, spend less on preparation, chase volume, and treat clients as units rather than human beings. We have seen where that road leads elsewhere: in one study, patients at private-equity-owned hospitals suffered a 25% jump in complications after the buyout. The profit-first model has no patience for the client whose case is hard, whose injuries are complicated, or whose fight demands years and a trial. To an investor, that client is a bad bet. To us, that client is the entire point.
None of this means moral values and financial success are enemies. Doing right by people is exactly what earns trust, referrals, and results. But when human values and shareholder profits collide, a firm reveals what it truly is by which one it is willing to sacrifice.
Ask me to choose, and I’ll take values over valuations every time.
Kenneth Berger
Founding Attorney & Author
Kenneth “Kenny” Berger has dedicated his professional life to representing deserving human beings and their families in life-altering injury and wrongful death cases across South Carolina. Through consistent application of values such as honesty, hard work, and generosity, he has helped achieve noteworthy results while also earning the respect of clients, colleagues, and community.
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