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The Legal Services Act 2007 will implement fundamental changes to the structure and regulation of legal services in England and Wales. It presents significant commercial opportunities for law firms, as well as their potential business partners and investors.

It is vital that, when planning for the exploitation of those commercial opportunities and/or the implementation of the new regulatory regime required by the Act, law firms’ management teams give proper consideration to the impact of any proposals on their staff – a professional practice’s most valuable resource – as well as their legal obligations to them.

The Act introduces changes aimed at increasing competition in the provision of legal services, creating greater flexibility within the legal profession and protecting and promoting the interests of consumers. Its key measures are:

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