Alternative business structures
Personal injury ABS makes marketing for other professionals its long-term goal
A sole practitioner has joined forces with a claims management and marketing company to form an alternative business structure with the eventual goal of providing marketing for a range of professionals, including lawyers and accountants.
Criminal law barristers urged to embrace new business structures to survive
Criminal law barristers need to consider significant changes to their business models if they are to remain competitive, the Legal Services Board has argued. It said liberalisation is one of the reasons the government does not need to intervene in the criminal advocacy market.
Firm launches ABS spin-off after pledge of multi-million pound recovery work
An international law firm has launched a start-up alternative business structure to carry out recovery work after being promised cases with a debt value of £40m by existing corporate clients.
Here come the accountants and legal executives…
Competition in the law is to increase further after the Legal Services Board backed accountants to handle reserved probate work and set up alternative business structures, as well as chartered legal executives to set up their own conveyancing and probate practices.
In-Deed brand acquisition aimed at building up online property panel
The In-Deed conveyancing brand has been acquired by the owner of an online property panel – the final step in the dissolution of the country’s first alternative business structure (ABS) failure.
IPReg poised to become ABS licensing authority number 3
The prospect of external investment in intellectual property firms is set to soar after the Intellectual Property Regulation Board won the support of the Legal Services Board to become the third alternative business structure licensing authority.
Top debt advice company buys high street law firm
One of the country’s largest debt advice companies has bought a high street law firm to offer additional services to customers and become “a major player in the legal services market”. MoneyPlus Group is backed by private equity firm Palatine.
Exclusive: Vara calls on legal aid “realists” to step forward
The prospect of a strike by legal aid lawyers is “regrettable”, but there are lawyers who will operate under the new regime, justice minister Shailesh Vara has insisted. Mr Vara also urged lawyers to embrace the innovation showcased by alternative business structures.
ABS update: MDP gains licence, employee ownership move, NewLaw’s latest JV, Co-op “restructuring”
A multi-discipinary financial services group has obtained an ABS licence to complete its broad-based professional advice offering by bringing legal services in-house. Meanwhile, a specialist fertility law practice is considering using its licence to introduce employee ownership,
Local councils make ABS bid as bulwark against outsourcing, while Kent pauses its ABS plan
HB Public Law, the merged legal teams of the London boroughs of Barnet and Harrow, is to seek an alternative business structure as a defence against outsourcing. Meanwhile, Kent Legal Services, the first council legal team to express ABS ambitions, has its plans on hold.
Blog
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Where once many law firm owners remained technology sceptics, a growing number are now shaped by leaders who are digitally fluent and commercially oriented.
Managing lock-up, cash flow and billing inefficiencies better
If law firms view lock-up, cash flow and billing processes as key indicators of financial performance – and therefore risk – they can identify problems early.
Ethical standards to protect the public
The recent BBC Panorama episode on solicitors acting for the Post Office highlighted how some lawyers can lose sight of their role to uphold the rule of law and the public interest.
