Practice Management

A large legal aid practice with a £10m turnover was sold to a consolidator in a pre-pack just before Christmas for only £200,000 upfront, it has emerged. But the jobs of all 80 staff were saved.

Staff at Ison Harrison, one of the largest law firms to be employee owned, have each received a tax-free profit share of £3,600 after the first year of the new structure.

“Feeling underappreciated” is the most common reason why associates want to leave their law firms, a study has found, with women more likely than men to be looking to change jobs.

Medium-sized law firms could save around £400,000 every year and reduce carbon emissions by digitising paperwork, research has estimated.

The growth of fee-share law firm arch.law has continued with the addition of a five-strong London practice onto the platform, the first firm to join its network.

The first employee owned law firm in the country has now become a B Corporation, saying it is part of a movement to prove “there is a better way to do business”.

It’s been a busy couple of months for merger and acquisition activity in England and Wales, with firms expanding their geographical footprint a notable trend.

Lawyers are “leading the charge” among professional services firms when it comes to diversity, equality and inclusion initiatives, a report has found.

Law firms are “well placed” to set socio-economic diversity targets because of data they are required to collect by the SRA, a taskforce led by the City of London Corporation has said.

Five law firms have now agreed to offer all those who successfully apply for trainee solicitor and other training posts the opportunity to work part-time.