Alternative business structures

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.