Alternative business structures


Irwin Mitchell tipped for £500m stock market listing – again

12 April 2021

National consumer giant Irwin Mitchell is planning a stock market float valuing the law firm at £500m, according to press reports at the weekend. It could happen this year, said Sky News.


Covid hits revenue and profits at Co-op Legal Services

9 April 2021

Revenue and profits at Co-operative Legal Services fell as a result of coronavirus but case volumes grew during last year, its annual results have shown.


PII increase “makes case” for running unregulated practice alongside ABS

26 March 2021

A legal business that uniquely runs both a regulated and unregulated practice says a 220% increase in the cost of its professional indemnity insurance justifies the way it operates.


Acquisition no12 for Knights amid activity at insurance ABSs

23 March 2021

Listed law firm Knights continued its consolidation play yesterday by announcing a £5.3m deal to buy Surrey firm Mundays, as we also report on activity at two insurance-led ABSs.


ABSs become a reality in America as Arizona approves the first two

22 March 2021

America now has its first two alternative business structures, approved in the state of Arizona, to go alongside an increasing variety of businesses in a regulatory sandbox in Utah.


Listed company buys specialist employment law ABS

5 March 2021

A specialist alternative business structure has been bought by a listed company to boost its fast-growing national employment law business and compete with traditional law firms.


Former presidential adviser joins ABS with eye on Brexit benefits

22 February 2021

A unique alternative business structure that combines legal and political advice has unveiled a former economic adviser to President GW Bush as its latest high-profile hire.


Legal and financial services group expands with law firm acquisition

16 February 2021

Fast-growing wealth management and legal services firm Progeny has continued its expansion by acquiring conveyancing firm Watson Law, with three financial planning firms next on its agenda.


First4Lawyers sets up law firm to handle road traffic claims

4 February 2021

Legal marketing business First4Lawyers is to create an alternative business structure to handle road traffic accident claims after the whiplash reforms are introduced in May.


New York rejects ABSs for now as Arizona opens doors to them

21 January 2021

Alternative business structures will not be allowed in New York for the time being because the case for them improving access to justice has not been made, a commission has decided.


SME firm eyes ABS licence to share fees with non-lawyer collaborators

18 January 2021

A law firm that works with non-legal businesses to offer SME clients a multi-disciplinary service is to convert to an alternative business structure so that they can share fees.


QC and accountant set up ABS regulated by SRA

12 January 2021

A commercial QC has taken the unusual step of setting up an alternative business structure with an accountant, in contrast with what he described as the “outmoded” chambers structure.


Teaching law firm “busier than ever” with pandemic caseload

21 December 2020

The head of the first ‘teaching law firm’, Nottingham Law School’s Legal Advice Centre, has said it is “busier than ever” helping clients, many of whose problems are related to the pandemic.


Inward investment consultancy becomes ABS after “exponential growth”

3 December 2020

A professional services consultancy specialising in advice to foreign businesses wanting to set up in the UK has become an alternative business structure after “exponential growth” in 2020.


Legal Services Act a decade on: Much to celebrate but much to do

25 November 2020

There is “much to celebrate” from the first decade of the Legal Services Act but the basic legal needs of many citizens are still not being met, the Legal Services Board said today.

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Blog


Law firms’ cost focus will drive financial innovation in the sector

What the pandemic has brought into sharp focus for firms is a desire to reduce costs. In 2019, research found cost reductions were last on a long list of priorities for firms; now they are near the top.


How burnout was my catalyst for serving lawyers instead of being one

As my legal career progressed, I began to realise the reality was very different than I had envisaged. I was in a constant state of stress, working very long hours. I normalised the stress, as it seemed to be everywhere I looked.