Market monitor

A majority of barristers think they should be able to conduct litigation whether they are working inside “entities”, such as law firms, or whether they are self-employed, according to emerging findings from the Bar Standards Board’s survey of the profession. There was also a majority in favour of extending public access.

Separate surveys from Sweet & Maxwell and accountants BDO indicate that confidence is returning to the big law firms, with renewed interest in mergers and lateral hires, while also scaling back further plans for redundancies. But cross-selling and tighter credit control are also on the agenda.

With alternative business structures now 18 months away, Neil Rose looks at how the recommendations of the Jackson report could be overtaken in the new legal services environment. In particular, what might claims management companies, third-party funders and class action specialists do?

Profits at Co-operative Legal Services more than doubled last year, preliminary figures have shown. Sales from the legal arm grew 45%, to £20 million, with operating profits up £2.1 million to £3.8 million.

High street conveyancers are not comfortable about diversifying into other areas of practice, research has found. Some 60% were wary of moving into fields such as litigation and probate.

The chief executive of the Legal Services Board has urged local government lawyers to seize the opportunities presented by the prospective introduction of alternative business structures in mid-2011.