Tag Results
SRA on track after ABS regime clears final parliamentary hurdle
Thursday, 17 November 2011The final legislative obstacle to the Solicitors Regulation Authority licensing alternative business structures was removed on Tuesday when the House of Lords approved secondary legislation on non-lawyer owners’ disclosure of criminal convictions and appeals against ABS licensing decisions.
Tags: ABS, Alternative business structures, Legal Services Board, Solicitors Regulation Authority
Posted in Alternative business structures, News
Profit margins slide at big firms as ABSs hove into view
Tuesday, 15 November 2011Profit margins among all but the elite of the top 100 law firms have dropped significantly over the past five years, new research has revealed, with the introduction of alternative business structures set to pressure them even more.
Tags: ABS, Alternative business structures, mergers, private equity
Posted in Alternative business structures, Market monitor, News
The big partnership debate: leave it in the past or embrace it for the future?
Friday, 11 November 2011Is partnership an “inefficient and unattractive” structure that should be ditched to survive in the new legal marketplace, or is it a viable current model with much to offer lawyers wanting flexible governance and discretion? Both sides were put at a conference this week.
Tags: ABS, Alternative business structures, limited liability partnership, LLP, partnerships
Posted in News
In-Deed: we will invest in law firms to build consumer legal brand
Thursday, 10 November 2011AIM-listed In-Deed has today become the first business to announce its explicit intention to invest in law firms. The company is looking for approaches from “successful and profitable provincial legal practices” to help make In-Deed a leading consumer legal brand.
Tags: ABS, Alternative business structures, consumer brands, conveyancing, personal injury
Posted in Market monitor, News
Pro bono panel calls for more public legal education and says ABSs may help
Wednesday, 9 November 2011It is essential for law firms to offer better public legal education – including getting into schools, according to the Master of the Rolls – while alternative business structures could help pro bono provision, it was claimed at the launch of National Pro Bono Week on Monday.
Tags: ABS, Alternative business structures, pro bono
Posted in Alternative business structures, Latest news
Co-op to move into family law after hiring high-profile solicitors
Thursday, 3 November 2011Co-operative Legal Services has issued a major signal of intent by recruiting two leading solicitors to launch a family law service next year: Jenny Beck and Christina Blacklaws of TV Edwards, who both hold significant roles in the profession.
Tags: ABS, Alternative business structures, Co-op
Posted in Alternative business structures, Market monitor, News
Will the separate business rule ruin CMCs’ plans to become ABSs?
Monday, 31 October 2011I spoke at a conference organised by the Claims Standards Council earlier this year in Manchester on applying to become an alternative business structure. Inevitably the main topic of the conference was the Jackson reforms and the (then) possible threat to referral fees. The organisers thought that the impact of the reforms might lead many claims management companies to consider becoming an ABS by acquisition or merger with existing law firms or by developing an in-house legal function.
Tags: ABS, Alternative business structures, claims management companies, separate business rule, Solicitors Regulation Authority
Posted in Features
CMCs warned over major ABS hitch amid call to close referral fee ban "loophole"
Monday, 31 October 2011Claims management companies looking to create legal arms as ABSs could fall foul of Solicitors Regulation Authority rules, a former SRA director has warned, while a leading insurance lawyer cautions over a loophole in the referral fee ban.
Tags: ABS, Alternative business structures, claims management companies, referral fees, separate business rule, Solicitors Regulation Authority
Posted in Alternative business structures, News
The mystery of LawVest
Friday, 28 October 2011What is LawVest? It’s a question I’ve been asking those behind it for a bit but the information they have released to Legal Futures today has not made things a great deal clearer. They are keeping their model confidential for the time being, which is fair enough. But getting a firm like DLA Piper on board, and particularly Sir Nigel Knowles – who knows a thing or two about taking something small and making it very big – is a statement of significant intent.
Tags: ABS, Alternative business structures
Posted in Blog
Exclusive: DLA Piper invests in prospective ABS targeted at legal advice for businesses
Friday, 28 October 2011Top City law firm DLA Piper has invested in a prospective alternative business structure (ABS) that promises to introduce a “market-disrupting” new approach to providing businesses with legal advice, Legal Futures can reveal.
Tags: ABS, Alternative business structures
Posted in Alternative business structures, Market monitor, News