Alternative business structures
Barristers move towards ABS, survey says
Nearly one in five criminal and family barristers are considering joining alternative business structures with non-lawyer owners and four out of ten plan to apply, or are thinking of applying, for authorisation to conduct litigation, according to a major survey.
Fairpoint gets green light to buy Simpson Millar and eyes further acquisitions
Fairpoint Group plc has officially entered the legal market after the Solicitors Regulation Authority approved its £15m acquisition of national law firm and alternative business structure Simpson Millar.
Red Bar eyes steady stream of barristers seconded to corporates
Our series catching up with the new breed of alternative business structures profiles Red Bar, the first start up ABS and a law firm offering early access to barristers, and how a no-nonsense approach to payment is aiding big expansion plans.
Bates Wells Braithwaite claims ABS will allow first ‘unified service’ in City
Bates Wells Braithwaite, the charity law specialist, has claimed that its new ABS status will enable it to provide the first ‘unified service’ in the City. The firm’s non-legal services have been set up by accountant Jim Clifford, who is now an equity partner.
British Printing Industries Federation awarded ABS license
The British Printing Industries Federation, a trade association representing the UK’s print and packaging industry, has been awarded an ABS license, while a Hull-based employment, taxation, health and safety and environmental law service has also won ABS status.
ABSs capture a third of personal injury market, SRA research reveals
ABSs account for a third of all turnover in the personal injury market, the first accurate overview of the progress of alternative business structures has revealed.
SRA takes too long to approve applications, ABSs say
Firms applying for alternative business structure (ABS) status believe the Solicitors Regulation Authority takes too long to approve applications and its staff are too “bureaucratic”, according to the regulator’s own research.
Russia-focused multi-disciplinary ABS plans growth
In the latest of our series profiling the new breed of alternative business structure, we speak to Red Square London, a law firm and multi-disciplinary family office that provides services mainly to wealthy Russian and Russian-speaking clients.
SRA slashes ABS licensing backlog
The Solicitors Regulation Authority has slashed its backlog of ABS licensing applications from 142 in January 2013 to 52 in April this year, it has emerged. The average age of work-in-progress ABS applications is now three months.
Not-for-profit’s groundbreaking ABS eyes expansion
In the third part of our series in which we catch up on the progress of the new breed of alternative business structures (ABSs), we speak to Castle Park Solicitors, which was the first ABS to be created by a legal advice charity.
Blog
On good authority? GenAI and the reputational risks to law firms
As GenAI’s influence grows, so do the risks which are already playing out in courtrooms across England and Wales, where some early adopters are setting precedents they would rather not.
Why this is the year for law firms to embrace generative AI
After more than a year of pilots, proofs of value and early experimentation, firms are increasingly embedding AI into day-to-day workflows.
Client account interest is not spare change
The proposed Interest on Lawyers’ Client Accounts scheme is being framed as a sensible, international, “tried and tested” way for the profession to help fund a justice system under strain.
