Many aspects of legal life have changed in the last 18 months but the need to innovate has not – if anything, it has become more urgent. Our coverage of law firms, both regulated and not, which have introduced new approaches to legal practice has remained vibrant since our last Innovation Conference two years ago and in this event we will reflect that.
It is now a decade since the first alternative business structure (ABS) was licensed. The change in that time has been immense – around 1,500 ABSs are now operating in every corner of the legal market, while countless more firms have taken up the innovation challenge inspired by the Legal Services Act without having to change their ownership.
The Legal Futures Innovation Conference has always looked to showcase those at the cutting edge and this year’s will be no different. Our session on New Ways to Practise Law will feature an amazing variety of firms, from one offering litigation concessions to law firms and a business with both regulated and unregulated firms, to the solicitor who set up an unregulated employment law business and successfully sold it last year.
We will hear from some of the growing number of consolidators in the market – by my count there are at least 10 actively looking for acquisitions – and about the many ways to finance innovation now, including private equity and public listing.
Key to much of this is understanding today’s clients and the Managing Director of Consumer Legal Services at Slater & Gordon – which remains at the forefront of the consumer market – will explain her vision of the future.
The conference will close with a different angle on changing practice – the focus on environmental, social and governance that is permeating the business world. Law firms that are part of different movements promoting an ethical approach to doing business will explain why this should now be on your agenda.