Leonard Lee interviews Steve German about his new ABS law firm, Scout Law Group

A Miami-based private investment firm has partnered with an Arizona attorney to launch a law firm in the Grand Canyon State focusing on legal areas such as medical malpractice and wrongful death, one of only 25 alternative business structures authorized by the Arizona Supreme Court.

Arizona became the first state in the nation to allow nonlawyers to own law firms last year and multiple Valley firms have changed their ownership structures as a result.

Regular cash flow, while working on a contingency fee-based structure, is a big challenge for most plaintiffs firms. Steve German, who just launched the Arizona-based plaintiffs boutique Scout Law Group, says he has changed that equation for good.

Finance management is an important part of business management. As such, you need to know the basic principles and principles of finance.