Can legal consulting companies go public?

Good question. According to the provisions of the Lawyers Law, law firms can only be established in three forms: partnership system, individual system and state-owned office. Law firms cannot adopt modern enterprise organization forms such as limited liability companies or joint stock limited companies, which determines that it is impossible for law firms to issue shares in any capital market to raise funds, and they can only rely on the investment of partner lawyers to develop their business. According to the company law and securities law, only joint stock limited companies can go public, and this institutional problem is the biggest obstacle. The Ministry of Justice once conducted a pilot project of corporate law firm, namely Guo Hao Lawyers Group Co., Ltd., which was later cancelled.