Alternative business structures: an uncertain future? – Halsbury’s Law Exchange

“The government’s White Paper preceding the Legal Services Act, based on the conclusions of Sir David Clementi’s review, promoted the concept of alternative business structures (ABSs) based on an expectation of a glowing future: that consumers would have more choice, and would benefit from reduced prices, better access to justice, improved levels of service, greater convenience, and that in consequence there would be increased consumer confidence in the quality of legal services. The suppliers of legal services would benefit from increased access to finance, a better spread of risk, increased flexibility, the opportunity to recruit and reward high quality non-legal staff, and there would be greater opportunities for new legal professionals.”

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Halsbury’s Law Exchange, 21st January 2013