NOTE REGARDING REVISED OPINION:
Opinion No. 642 was issued by the Committee in May 2014. Upon reconsideration, the Committee withdraws that opinion and issues this revised Opinion No. 642 in its place.
A for-profit Texas law firm employs non-lawyer professionals to manage various aspects of the firm’s business, such as marketing, advertising, and information technology services. The firm plans to give these employees job titles that may include the words “officer,” “principal,” or “director.” In addition to paying salaries to these employees, the firm proposes to offer these employees specified bonuses that will be paid if the firm achieves a designated amount of revenue or profit.
Tex. Comm. On Professional Ethics, Op. 642 (2014)