Alternative business structures
PII increase “makes case” for running unregulated practice alongside ABS
A legal business that uniquely runs both a regulated and unregulated practice says a 220% increase in the cost of its professional indemnity insurance justifies the way it operates.
Acquisition no12 for Knights amid activity at insurance ABSs
Listed law firm Knights continued its consolidation play yesterday by announcing a £5.3m deal to buy Surrey firm Mundays, as we also report on activity at two insurance-led ABSs.
ABSs become a reality in America as Arizona approves the first two
America now has its first two alternative business structures, approved in the state of Arizona, to go alongside an increasing variety of businesses in a regulatory sandbox in Utah.
Listed company buys specialist employment law ABS
A specialist alternative business structure has been bought by a listed company to boost its fast-growing national employment law business and compete with traditional law firms.
Former presidential adviser joins ABS with eye on Brexit benefits
A unique alternative business structure that combines legal and political advice has unveiled a former economic adviser to President GW Bush as its latest high-profile hire.
Legal and financial services group expands with law firm acquisition
Fast-growing wealth management and legal services firm Progeny has continued its expansion by acquiring conveyancing firm Watson Law, with three financial planning firms next on its agenda.
First4Lawyers sets up law firm to handle road traffic claims
Legal marketing business First4Lawyers is to create an alternative business structure to handle road traffic accident claims after the whiplash reforms are introduced in May.
New York rejects ABSs for now as Arizona opens doors to them
Alternative business structures will not be allowed in New York for the time being because the case for them improving access to justice has not been made, a commission has decided.
SME firm eyes ABS licence to share fees with non-lawyer collaborators
A law firm that works with non-legal businesses to offer SME clients a multi-disciplinary service is to convert to an alternative business structure so that they can share fees.
QC and accountant set up ABS regulated by SRA
A commercial QC has taken the unusual step of setting up an alternative business structure with an accountant, in contrast with what he described as the “outmoded” chambers structure.
Blog
Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
Bulk litigation – not always working in consumers interests
For consumers to get the benefit, bulk litigation needs to be done well, and we are increasingly concerned that there are significant problems in some areas of this market.
ABSs, cost and audits – fixing regulation after Axiom Ince
A feature of law firm collapses and frauds has sometimes been the over-concentration of power in outdated and overburdened systems of control.
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