Alternative business structures

The English arm of international law firm Reed Smith has become an alternative business structure as it looks to “future proof” its practice by offering non-legal services and hiring non-lawyer partners.

Top-40 accountancy firm Streets has become the latest to add legal services to its offering with an alternative business structure licence – making it only the seventh top-100 firm to do so.

A cash flow crisis that led to payments to its consultants being withheld and they then leaving as a result caused the collapse of new-model law firm Cubism Law, it has emerged.

A virtual firm alternative business structure aimed at top-end solicitors approaching retirement is white labelling entities to groups of lawyers or overseas practices looking to start up under their own brand.

The future of BT Law is under scrutiny as the communications giant that owns the alternative business structure moves to focus more on its core business, Legal Futures can reveal.

Anexo Group, the listed credit hire and legal services business, is looking to expand beyond road traffic accidents and the North-West and said the demise of other claimant law firms was “great” news.

The alternative business structure run for National Accident Helpline by Cardiff-based NewLaw Solicitors has added £3m in profitability to the law firm, it emerged yesterday.

An Essex full-service law firm has become an alternative business structure in order to further its ambitious expansion plans. Birkett Long is looking to establish a group structure.

The idea of alternative business structures is starting to gain a foothold in America after working parties in two more states joined California in recommending non-lawyer ownership of law firms.

A trainee legal executive and her practice manager sister have taken over the law firm owned by their mother after her death, by restructuring it as an alternative business structure.