ISBA Ethics Opinions on Retirement and Sale of Law Practice

Opinion 07-02 | Of Counsel Designation | Retirement and Sale of Law Practice
Continued practice after sale of law practice

Lawyer may not sell legal practice and continue to practice on a fee representation basis in the same geographic area.

Lawyer may sell tangible assets of law practice and continue to practice subject to proper procedures being followed.

ISBA Advisory Opinions on Professional Conduct are prepared as an educational service to members of the ISBA. While the opinions express the ISBA interpretation of the Illinois Rules of Professional Conduct and other relevant materials in response to a specific hypothesized fact situation, they do not have the weight of law and should not be relied upon as a substitute for individual legal advice. For more information, call the ISBA Legal Department at (217) 525-1760 or (800) 252-8908.