KPMG is about to make history by becoming the first Big Four firm to open a US law practice, using a unique Arizona rule that breaks traditional barriers.
KPMG will establish KPMG Law US after an Arizona judicial committee unanimously backed their application. The state Supreme Court will make the final decision on January 28, 2025.
Why It Matters
This move bypasses a long-standing rule that only licensed lawyers can own law firms in the US. Arizona scrapped this restriction in 2021, creating an opening that KPMG seized.
The Business Plan
KPMG Law US will focus on large-scale contract work, remediation projects and M&A contract work.
The firm won’t compete with traditional law firms on complex deals or trademark disputes. Instead, it aims to use KPMG’s global reach for standardized legal work.
While this marks a significant shift in the US legal market, experts say traditional law firms shouldn’t worry too much. The impact will be “meaningful but not existential” for US law firms.
The question now is whether the move by KPMG will be opening doors for other Big Four firms to follow suit.
