New Guidance Issued on Virtual Office Sharing Arrangements

Summary: A recent ABA Formal Opinion 507 addresses office sharing arrangements, which are becoming more common post-COVID.  More virtual offices mean that law practices don’t need “brick and mortal” office space (that is, space owned or rented by the firm) just for themselves. Instead, two or more law practices share certain common office facilities, overhead expenses (for example, rent, furniture, equipment and even utilities) and perhaps support staff (for example, a common receptionist, office assistants and perhaps paralegals)