Private equity interest in U.S. law firms is accelerating, and AI is a major reason why. In this Season 3 kickoff, Jen Leonard and Bridget McCormack explore how ethics rules collide with the capital demands of AI, and why the real story isn’t short-term profits but long-term investment in legal infrastructure. They unpack Rule 5.4, the rise of the MSO model as a workaround for outside investment, and what “ownership” really means when control over data, technology, and professional judgment is at stake.
The conversation also examines emerging judicial approaches to AI disclosure and what they signal for competence, evidence, and governance as AI becomes foundational to legal practice.
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