> I could be wrong, but those doctors and lawyers who are in partnerships don't seem to be using that structure due to lack of employment opportunities under other structures.
A big part of the regulation of doctors and lawyers is the part that keeps the competition out. Google or your favourite startup can't just train up a few neural networks and start dispensing legal or medical advice; even if that advice was much better than what you'd get from your median human lawyer or doctor.
The organisation into partnerships might be more about who's excluded, than what the people in the club are allowed to do?
You are right about liability concerns playing a role, too. And then there's also tax issues.
A big part of the regulation of doctors and lawyers is the part that keeps the competition out. Google or your favourite startup can't just train up a few neural networks and start dispensing legal or medical advice; even if that advice was much better than what you'd get from your median human lawyer or doctor.
The organisation into partnerships might be more about who's excluded, than what the people in the club are allowed to do?
You are right about liability concerns playing a role, too. And then there's also tax issues.