The SRA has licensed the first three alternative business structures (ABS)
The SRA issued its first 3 ABS licences today. As widely expected, the Co-op was one of these. An ABS is a business providing regulated reserved legal activities but which has either, or both, non-lawyer owners and managers. This is a break from the traditional structure for a law firm which had to be owned and managed solely by lawyers.
Related in brief posts
Mergers, finance, technology and succession planning were high on the agenda at the latest Gazette roundtable, which discussed changing law firm business structures.
Brexit considerations for Professional Service firms
With the UKBA's requirement for a Tolstoyesque dossier of details on visa applicants, one may be able to sympathise with Roman Abramovich's immigration troubles.