Alternative business structures

A niche law firm which advises on employee share ownership and executive pay has become the latest to convert to an employee ownership trust.

A major Lincolnshire-based firm of accountants is moving beyond offering probate services by becoming an ABS to provide clients with a “wrap-around” service.

Arizona has become the first US state to allow alternative business structures on a permanent basis in what its supreme court called a “generational advance in access to justice”.

Accountants and firms regulated by the ACCA will have a pathway to handling all the reserved activities under the plan to transfer supervision of their legal work to CILEx Regulation.

Utah has become the first US state to embrace alternative business structures in response to what has been described as an access-to-justice crisis exacerbated by Covid-19.

An alternative business structure has been launched by a hedge fund-backed business that finances commercial debt recovery litigation, with ambitious plans for expansion.

Litigation financier Burford Capital has lived up to its self-description as “the legal profession’s investment bank” by taking a minority stake in a London law firm in return for providing finance.

A rapidly expanding alternative business structure which combines conveyancing and mortgage advice is expecting a record month as the property market roars back.

A firm of financial advisers has launched an alternative business structure to provide its clients with legal services which it claims are faster and “at least a third cheaper”.

Alternative business structures are reshaping the boundaries of the law by emphasising the benefit of integrated professional services, rather than pure legal knowledge, a leading academic has argued.