A law firm has become a minority investor in a legal tech company, in what is understood to be the first move of its kind. Taylor Vinters said it wanted to develop new technology through collaboration with other businesses,
The president of the Supreme Court has urged the legal profession not to lose sight of its fundamental principles in the rush for modernisation, warning about the risks of pressure from “hard-nosed businessmen” who may invest in law firms.
The millionaire co-founder of Betfair – the world’s largest betting exchange – is the principal investor behind new alternative business structure Brilliant Law, it has emerged. Brilliant Law said it is the UK’s first law firm set up by non-lawyers, a team “renowned for challenging the markets within which they operate”
Unlikely as it may seem, external investors are showing an interest in the criminal Bar. The reason, explains John Binks, is the way Legal Services Commission payments are structured and the £70m of work-in-progress that barristers are now sitting on.
The operational end of the Solicitors Regulation Authority needs to keep pace with those at the top of the organisation who “embrace and encourage legal business innovation”, and not stymie the type of development the Legal Services Act is supposed to promote, the head of one of the major ABSs has said.
New York lawyers are banned from running the Big Apple office of a UK alternative business structure with non-lawyer owners, the New York State Bar’s committee on professional ethics announced yesterday.
The Solicitors Regulation Authority is unlikely to start licensing alternative business structures (ABSs) until 2012, it has confirmed. The news comes as the authority spelt out the detailed level of information about investors in prospective ABSs that it will expect to see.