Is US legislation woefully behind the curve?  This week the Aussies launched the first IPO of a law firm.  For a look at the prospectus and other information for investors, check out the Investors’ page on the Slater & Gordon website.  The British are next in line with pending legislation to permit outside  law firm ownership; however, as noted in my previous post on this topic, Magic Circle firms in the UK have united against this legislation. Check out a June 1 Law.com post for a detailed update on this trend.