Market monitor

International firm Dentons is to launch what it describes as the first free global law firm referral network, with the aim of “changing the whole marketplace”. Meanwhile, LOD has claimed another first by launching an online marketplace for freelance lawyers.

A Bath-based legal services business run by two former managing partners of large firms – Withy King and CMS Cameron McKenna – has obtained an alternative business structure licence to bring regulated legal work in-house. OmniaLegal describes itself as a “legal services co-operative with a difference”.

There is a “climate of renewed vulnerability” among smaller law firms, with the vast majority of lawyers believing there are “still rough times ahead”, a report has found. The report also revealed a huge gulf between lawyer and client perceptions of value.

The founder of an unregulated law firm offering advice to SMEs has said there is a “massive space” for similar companies to move into the market. Robert Taylor, founder of Business Law Online, said small businesses wanted a “much more commercial” approach.

Slater & Gordon saw its share price double yesterday after its banks gave the alternative business structure breathing space to turn the business around. The firm said it considered the lenders’ agreement to change the terms of its borrowing to be “a positive and clear endorsement of the company’s performance improvement program”.

The UK office of a major US law firm specialising in acting for men in divorce cases, is approaching its first anniversary with plans to expand into several UK cities. The Solicitors Regulation Authority initially “took an interest” in whether Cordell & Cordell discouraged women clients.

A company that provides valuation, sales and other services to dentists has added legal advice to its offering with the launch of an alternative business structure. The aim is to make FTA Law “the largest provider of legal services” to the dental profession.

A regional law firm based in Peterborough has taken on the big referral networks by setting up a niche scheme of its own. BUCKLESconnect, launched this month, specialises in advice on French and Spanish law, planning and construction, and contentious probate.

The Lifetime Group has become the latest financial services business to add legal advice to its offering by gaining an alternative business structure. Meanwhile, Metamorph Law – which last year announced plans to “acquire, transform and aggregate” high street law firms – has received its ABS licence.

Law firm network QualitySolicitors yesterday announced a greater focus on lead conversion, along with a change in leadership to drive it. CEO Eddie Ross is to leave next month and be replaced by Ben Greco, managing director of property services firm Move with Us.

A DIY legal guidance and forms website set up by two Korean solicitors and aimed at overseas SMEs and start-ups setting up businesses in the UK, is to launch later this year. LawXero is an unregulated platform which styles itself as “a flexible online legal information and guidance station for smart businesses looking to establish a UK presence”.

Gateley has made its first acquisition as a listed company, using shares to finance part of the £2.7m purchase of specialist tax incentives advisory business Capitus. The business, which is to be renamed Gateley Capitus, made a £593,000 profit on a £1.38m turnover in its last financial year.

A new not-for-profit personal injury marketing collective with 20 law firms stumping up £600,000 each to create a £12m budget is set to go live shortly in a bid to disrupt the market. The collective has been put together with well-known legal digital marketing agency mmadigital.

Co-operative Legal Services returned to profit last year, although turnover continued to fall, its annual results have revealed. Though turnover – which reached a high of £33m in 2012 – was down a further 14% to £18m, CLS turned a £5m loss into a £700,000 profit.

Essex Legal Services has become just the fourth local authority legal department to become an alternative business structure. The legal department of Essex County Council predicted that it could make an additional surplus of £1.8m by 2020 through a “growth strategy” with creation of the ABS as “one of the key enablers”.