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Well-known personal injury law firm Gorman Hamilton has launched a twin-track approach to life after LASPO, part of which has been to form an alternative business structure (ABS) in which a credit hire company has a minority stake.

Cracking the non-PI consumer legal market could be the biggest prize yet. So why, asks Simon Goldhill of Legal Futures Associate Simon Goldhill Consultancy, is everyone looking the other way?
Law is big business. According to the latest government figures, the UK market generates over £26bn per annum. Recent analyses suggest that just under half of that comes from the business and commercial sector. Of the rest, £3.5bn relates to personal injury (PI) and £1.5bn to crime. That means that the non-PI consumer legal market in the UK is worth around £8bn per annum. This is equivalent to the entire 2012 turnover of the UK’s creative, arts and entertainment services industry.

A top north-west alternative business structure (ABS) has continued its expansion by moving into London. Fresh from its ABS licence approval in January, Stephensons is seizing on the “flexibility” of its new structure to muscle in on the London conveyancing market.

A claims management company specialising in interest-rate swap mis-selling could become an alternative business structure in order to litigate its own cases. All Square Treasury has just announced the appointment of a legal director.

A legal advice charity in Leicester has become the first not-for-profit organisation to set up an alternative business structure (ABS), Legal Futures can reveal. The Community Advice and Law Service has won approval to launch Castle Park Solicitors Community Interest Company.