Alternative business structures
Consumer law firms optimistic but fee pressure looms
Almost two-thirds of solicitors active in the main consumer law areas expect their workload to increase over the next year – but there is looming pressure on fees, a survey has found.
Redde sees 150% rise in profits from joint venture ABSs
Accident management group Redde plc – which owns NewLaw Solicitors – has seen profits from the law firm’s five alternative business structure joint ventures increase by nearly 150%.
PI firms merge to take on 2020 reform upheaval
Personal injury firms in Sheffield and Macclesfield have merged and created a new alternative business structure as they bid to ride out the upheaval of next year’s reforms.
University creates ABS to fuse law degree with work experience
Sheffield Hallam University has set up a standalone law firm so it can offer a law degree that incorporates mandatory work experience into every year of the course.
Construction business becomes ABS to reduce client confusion
A multi-disciplinary construction business has become an alternative business structure, in part to reduce confusion among clients and also offer a one-stop shop.
Tax consultancy sets up ABS to become one-stop shop
A tax consultancy has set up an alternative business structure to create a “one-stop shop” for independent contractors seeking advice, saying ABSs had made the law more entrepreneurial.
Global law company seeks more purchases after buying UK firm
Global law company Elevate is looking for more acquisitions this year after buying pioneering UK commercial law firm Halebury, which uses freelance lawyers to support in-house teams.
ABSs forge ahead as number of conveyancing firms shrinks
Alternative business structures operating in conveyancing are significantly more positive about their future than traditional practices as the number of firms in the field continues to fall.
New ABS combines legal and accountancy advice
A litigation-focused legal and accountancy alternative business structure, which opened for business this month, is set to benefit from an “explosion” in contested probate cases.
Innovation in law – it takes “sweat, risk and stubbornness”
The founder of pioneering alternative business structure rradar has described innovation in the legal sector as “sweat, risk and stubbornness”. It is now lining up acquisitions to aid growth.
Blog
Could unpredictable AI costs finally lead firms to true value pricing?
For years, the legal profession has talked of moving away from the billable hour to value-based pricing without quite managing it.
Is your Google Ads budget funding your competitors’ AI visibility?
If your cost-per-click has crept up again this year, you’ve probably assumed the market simply got more expensive. That’s the wrong way to read what’s happening.
Containing the spread of unapproved AI
Nearly 60% of fee-earners admit to using unapproved tools (like free versions of ChatGPT). Yet 68% of firm leaders are confident there is zero risk of unapproved AI being used for client work.
Reports
Associates
