Alternative business structures
Reed Smith looks to “future proof” practice as ABS
The English arm of international law firm Reed Smith has become an alternative business structure as it looks to “future proof” its practice by offering non-legal services and hiring non-lawyer partners.
Exclusive: Top-40 accountancy firm launches ABS
Top-40 accountancy firm Streets has become the latest to add legal services to its offering with an alternative business structure licence – making it only the seventh top-100 firm to do so.
New-model ABS brought down by cash-flow crisis
A cash flow crisis that led to payments to its consultants being withheld and they then leaving as a result caused the collapse of new-model law firm Cubism Law, it has emerged.
ABS Carbon opens platform to own-brand start-ups
A virtual firm alternative business structure aimed at top-end solicitors approaching retirement is white labelling entities to groups of lawyers or overseas practices looking to start up under their own brand.
Exclusive: Future of BT’s ABS under scrutiny
The future of BT Law is under scrutiny as the communications giant that owns the alternative business structure moves to focus more on its core business, Legal Futures can reveal.
ABS plans more growth as it sees PI firms closing
Anexo Group, the listed credit hire and legal services business, is looking to expand beyond road traffic accidents and the North-West and said the demise of other claimant law firms was “great” news.
NewLaw ABS joint venture adds £3m in profit
The alternative business structure run for National Accident Helpline by Cardiff-based NewLaw Solicitors has added £3m in profitability to the law firm, it emerged yesterday.
Firm becomes ABS to further group expansion plans
An Essex full-service law firm has become an alternative business structure in order to further its ambitious expansion plans. Birkett Long is looking to establish a group structure.
Two more US states eye allowing ABSs
The idea of alternative business structures is starting to gain a foothold in America after working parties in two more states joined California in recommending non-lawyer ownership of law firms.
ABS conversion allows daughters to keep mother’s firm going
A trainee legal executive and her practice manager sister have taken over the law firm owned by their mother after her death, by restructuring it as an alternative business structure.
Blog
How ELD NextGen will improve employers’ liability tracing
The Employers’ Liability Tracing Office is continuing work towards the launch of ELD NextGen, the next generation of the employers’ liability database, in early 2027.
Fifteen years on: Lessons from ABS reform
Fifteen years ago this month saw the very first alternative business structure. At the time, the prospect of non-lawyers owning law firms was dubbed ‘Tesco Law’.
Hybrid working and client money controls – be aware of the risks
For legal finance teams, remote working has changed how information moves, how approvals are obtained and how colleagues communicate.
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