Alternative business structures


Niche ABS takes on external funding and non-lawyers

11 November 2019

A niche alternative business structure working with companies that build the global infrastructure of technology has used it to take on external funding and non-lawyers who can help the business grow.


Boutique firm for funders combines legal and political advice

8 November 2019

A boutique law firm catering only for “sophisticated” capital funders is offering what is believed to be the first combined legal, commercial and political advisory service.


Communications giant hands over ABS to listed law firm

7 November 2019

Communications giant BT has handed over ownership of its alternative business structure to listed law firm DWF, it has emerged. Meanwhile, an Italian law firm has set up a BSB-regulated ABS.


Law firm EOT “gives staff security against sale”

5 November 2019

Transferring the ownership of law firms to employee ownership trusts (EOTs) boosts staff loyalty by giving them more security if the firm is sold, the chief executive of the latest firm to create an EOT has said.


Reed Smith looks to “future proof” practice as ABS

5 November 2019

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

23 October 2019

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

3 October 2019

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

19 September 2019

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

16 September 2019

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

11 September 2019

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

6 September 2019

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

5 September 2019

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

28 August 2019

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

5 August 2019

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.


Exclusive: Domestic violence charity sets up ABS to bridge legal aid gap

26 July 2019

A domestic violence charity has set up an alternative business structure to provide legal services for people who are not eligible for legal aid but cannot afford to pay for a private practice solicitor.

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Blog


Planning for retirement
8 July 2020

In 2006 I started thinking about retirement whilst founding a boutique practice specialising in partnership and employment law. Ten years later, a friend told me that I would never be able to retire.


Time for a new regulatory settlement
3 July 2020

The problem with reform based on a compromise with vested interests is that it ends up being more pig’s ear than silk purse and the Legal Services Act 2007 is no exception.


Reports


Report Cover
Our latest special report, produced in association with Temple Legal Protection, looks at the role of after-the-event (ATE) insurance in commercial litigation post-LASPO. We are at a time when insurers, solicitors, clients and litigation funders work ever more closely to create funding packages that work for all of them, with conditional fee and even damages-based agreements now part of many law firms’ armoury.