Value your firm
At the end of last year, the Legal Services Act gained Royal Assent, with provisions for alternative business structures (ABS) heralding opportunities for major changes in our legal services market - currently estimated to be worth £19bn. Although the law - which allows law firms to go into business with other professionals and list on the stock market - does not come into force until 2011, both investors and existing law firms are starting to rethink the delivery of legal services and explore market potential. This is an unprecedented opportunity for financial institutions and retailers to provide a range of legal products and for investors to take equity in existing legal practices.
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