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The Solicitors Regulation Authority (SRA) is in “serious discussions” with just 15 potential alternative business structures (ABSs), it has emerged. According to the SRA, six different types of organisation have so far shown official interest in becoming ABSs.

Creativity and collaboration should be the priority for law firms looking to fend off the threats from a liberated legal market, with joint ventures, referral networks and share offerings all possible solutions, last week’s Legal Futures conference was told.

The government has rejected a call from the legal profession that partners in alternative business structures should have to disclose all convictions and cautions, even if spent. But the SRA is still on track to start licensing ABSs in early 2012.

At least seven major brands will be launching high-profile campaigns to enter the UK legal services market in the next year, it has been revealed. Meanwhile, an investor is to assist a claims management company acquire several law firms.

Non-lawyer investors in alternative business structures will have to disclose any previous convictions, even if spent, to pass the ‘fit and proper owner’ test, Legal Futures can reveal. It was the last major hurdle to the full adoption of ABSs.