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20 July 2011
Ajaz Ahmed, co-founder of Freeserve, has set up an online legal service, LEGAL365.com, which he believes will become a major player in the post-ABS legal market.
Read more from the Solicitors Journal…
Law firms reluctant to relinquish control
The results from the latest round of our survey into the attitudes towards the opportunities and threats posed by the Legal Services Act, which comes fully in to force from October this year, show that law firms are reporting diminishing interest in external investment and alternative business structures.
Law firms reluctant to relinquish control
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ICAEW bids to regulate accountant-led ABSs on back of probate rights application.
Sell, sell, sell – what In-Deed tells us about law firm flotation
Posted by Neil Rose, Editor, Legal Futures
Market listing: hurdles for law firms to overcome
I don’t know much about the financial markets – that’s one of the many reasons I became a solicitor donkey’s years ago. So I don’t quite get how a company like online conveyancing business In-Deed, which with the best will in the world is currently little more than an idea, can float on AIM, have a market capitalisation of £8.6m and within a couple of days see its share price rise a third, from 42p to 56p. The service only actually launched last month.
It is vitally important that every practice makes a positive choice either to retain the vehicle of a traditional partnership or LLP status or ABS and settle their business plan for the future. Perhaps the worst possible position is to choose by default the status quo and do nothing else. Survival in tomorrow’s market is not compulsory!
Law Soc gives SRA go ahead to regulate new business structures.
The Law Society has backed the Solicitors Regulation Authority’s (SRA) application to become an Alternative Business Structure (ABS) licensing authority. Read more from Legal Week
Be afraid. Be very afraid. The supermarkets are coming. From October 6, grocers, banks, and outsourcing companies will be able to go into direct competition with the 112,000 solicitors largely practicing in small, high street firms across England and Wales.
Read more from Telegraph Business Club
Pagan Osborne now a limited company to take advantage of ‘Tesco law’
LAW firm Pagan Osborne has turned from a traditional partnership into a limited company as it becomes one of the first practices to prepare for the much-vaunted alternative business structures (ABS).
Chief executive Alistair Morris revealed the Edinburgh-based firm is already preparing to let other members of staff become shareholders.
Read more from Scotland on Sunday
60% of people would buy legal advice from brands like Barclays, AA, Co-op and Virgin. Read more from Legal Futures…