Market monitor

The number of qualified solicitors in private practice fell last year for the first time since records began. A new legal service market assessment by the Law Society also warned that that a small number of successful ABSs could radically reshape the market for high street legal services.

A company that specialises in helping wealthy business people from Russia and Eastern Europe relocate to London has acquired an alternative business structure licence in order to add legal services to its business services portfolio.

A personal injury law firm has launched a co-operative group marketing scheme based on a TV advertising campaign potentially worth up to £2m. eLawyers aims to build regional panels of firms who will receive exclusive leads by area of legal specialism.

Two law firms have made significant moves to align themselves with the insurance sector as the end of referral fees edges closer. Goldsmith Williams and Plexus Law have announced product launches as the race to be ready for the civil justice reforms gathers pace.

A leading media law firm and a regional practice seeking minority external ownership to drive an acquisition strategy are among the latest alternative business structure approvals as the number of licences issued by the Solicitors Regulation Authority tops 100.

BT’s new legal arm will have more than 100 staff once it is at full strength, its head of legal practice has revealed. Miles Jobling also expressed strong confidence that it would prove an attractive service to those seeking volume services.

Global communications company BT has been awarded an alternative business structure license from the Solicitors Regulation Authority to launch BT Law Ltd. It will provide legal services to corporate customers, initially in the motor claims market, but with an eye to expanding into other areas.

Legal expenses insurer and alternative business structure Abbey Protection plc has acquired Manchester commercial law firm Lewis Hymanson Small, completing a three-pronged strategy to expand its services to the SME market.

Slater & Gordon is set to grow its UK business after it announced its first half-year results since the takeover of Russell Jones & Walker. The listed Australian firm – now an ABS in England and Wales – posted a 46.5% increase in its revenue for the last six months of 2012.

A Liverpool firm that describes itself as “very open-minded” about external investment is one of a pair of firms to receive the latest alternative business structure (ABS) licences from the Solicitors Regulation Authority.

There is strong interest among the UK’s largest law firms in joining forces with a non-legal practice in the next two years, while several are also looking at external capital, according to new research.

Quindell Portfolio, the alternative business structure that has acquired three law firms in the past 12 months, will have “15% of the UK market for personal injury claims” this year, it has claimed. Meanwhile, another major ABS – Countrywide Conveyancing Services – has reported profits of £8m for last year, up 4% on 2011.

An alternative business structure licence has opened the door to a global consultancy that project manages aspects of some of the world’s largest infrastructure and energy projects buying a specialist construction law practice.

A specialist motorbike and moped accident management company has successfully applied for an alternative business structure licence in order to take in-house personal injury work that is currently outsourced.

A barristers’ chambers that forms part of a law firm group is amongst the latest crop of new alternative business structures approved by the Solicitors Regulation Authority. The SRA has now issued 90 licences, including multiples for firms with different entities.