Regulated entities include traditional lawyer - owned law firms as well as «licensable bodies,» otherwise referred to
as Alternative Business Structures or «ABSs.»
More specifically, the Issues Paper describes that the group «Regulatory Opportunities» is charged with studying existing regulatory innovations, such
as alternative business structures and the Canada Bar Association's Legal Futures Initiative Report, and then recommending «regulatory innovations that improve the delivery of, and the public's access to, competent and affordable legal services.»
Other recommendations have been debated but not embraced by the Association, such
as alternative business structures (ABS) for US law firms.
To distinguish firms that have nonlawyer owners or managers, or that engage in multidisciplinary practices, from traditional law firms and sole practitioners, the U.K. rules provide for a new kind of legal company, referred to
as an alternative business structure.
Irwin Mitchell LLP paid # 5.8 m of its profits into Irwin Mitchell Holdings, the company it set up as part of plans to restructure
as an Alternative Business Structure (ABS), according to limited liability (LLP) accounts recently filed with Companies House.
They are launching The Divorce Surgery
as an alternative business structure regulated by the Bar Standards Board later this week.
Established
as an Alternative Business Structure in April 2015, YangTze Law is the UK's first wholly Chinese - owned law firm.
GLENDALE, Calif. --(BUSINESS WIRE)-- LegalZoom announced today that it has been approved to begin operations
as an Alternative Business Structure (ABS) starting January 7, 2015, pursuant to changes in UK law firm regulations allowing companies to become licensed as providers of reserved legal activities.
Not exact matches
Blake counsels asset managers and broker - dealers on all aspects of the development and distribution of
alternative investment products, including registered investment companies,
business development companies, and other permanent or long - term capital
structures,
as well
as hedge funds and private equity funds.
With the United Nations celebrating 2012
as the International Year of Cooperatives, we also looked into which MBA programs champion cooperative
business management
as an
alternative to a more traditional
business structure.
Most bizarrely, no mention is made of
alternative business structures as used in the UK or Australia —
structures that would allow for imaginative combinations that would truly allow for greater access to justice.
The modules Thompson Rivers students will work on include drawing up a memo on an
alternative business structure for their company,
as well
as blogging about activities and using cloud - based practice management systems.
As to law firms becoming investment properties, and other such «
alternative business structures,» that brings the conflict of interest between the profit duty and the fiduciary duty — between serving yourself and serving your client.
alternative business structures may facilitate adoption of intelligent bots,
as many large - firm lawyers are resistant to change
It would be really easy to read last week's report from the Law Society of Upper Canada's Working Group on
Alternative Business Structures as thoughtful and considered.
The Court also enacted new attorney Rules of Professional Conduct in March 2015, which allows LLLTs to own a minority interest in law firms with lawyers, making Washington the first U.S. state to formally permit
alternative business structures (ABSs), which is generally defined
as non-lawyer investment and / or ownership in law firms.
Skeptics of
alternative business structures (ABS) have interpreted recent negative news
as the death knell for ABS in Canada.
Areas of study include the licensing of non-lawyers to perform legal tasks,
alternative business structures, multijurisdictional practice / reciprocity (internationally
as well
as in the country), and the uniform bar examination.
Sharon Nelson: Well, David, I know some of our listeners won't have a lot of familiarity with
Alternative Business Structures or ABS
as that term applies to law firms.
As an exception to the universally accepted view that law society committees are «all form and no substance» in regard to the «unaffordable legal services problem» («the problem»), there is one Law Society of Upper Canada (LSUC) committee that has produced a Discussion Paper that has great substance, although some ingrates are so inconsiderate as to say that it's not «the right stuff»; see: Alternative Business Structures and the Legal Profession in Ontario: A Discussion Pape
As an exception to the universally accepted view that law society committees are «all form and no substance» in regard to the «unaffordable legal services problem» («the problem»), there is one Law Society of Upper Canada (LSUC) committee that has produced a Discussion Paper that has great substance, although some ingrates are so inconsiderate
as to say that it's not «the right stuff»; see: Alternative Business Structures and the Legal Profession in Ontario: A Discussion Pape
as to say that it's not «the right stuff»; see:
Alternative Business Structures and the Legal Profession in Ontario: A Discussion Paper.
It was interesting to read in the legal press that the outsourcing giant Carillion «could become an
alternative business structure»
as part of plans to increase its legal services profile.
The
structure and function of the law society, including the possibility of regulating
alternative business structures, is a key question
as the Law Society of Alberta's members vote in their bencher election this week.
KPMG has been awarded an
alternative business structure (ABS) licence by the Solicitors» Regulation Authority (SRA) in a major landmark for the accounting firms
as it continues its push into the legal market.
KPMG has been awarded an
alternative business structure (ABS) licence by the Solicitors» Regulation Authority (SRA),
as the big four accounting firms continue their push for expansion in the legal market.
An accountancy firm has been licensed
as an ABS (
alternative business structure) for probate for the first time.
Gateley has joined Irwin Mitchell
as the second firm in the UK top 50 to secure an
alternative business structure (ABS) licence, which will allow the firm to appoint non-solicitors to its membership from 1 January 2014.
Some even question the long - term future of the partnership model,
as more lawyers now seek something different to partnership, and the arrival of
alternative business structures (ABSs) promise new ways of financing and running a legal
business.
«We really see
alternative business structures as an access to justice tool and something that can help us make legal services available to a wider variety of people from a wider variety of backgrounds,» says Gilani.
Reed Smith is considering converting its London office to an
alternative business structure (ABS)
as the firm eyes up the possibility of joint ventures and profit - sharing arrangements with non-lawyer
businesses.
And the issue
as to whether to legalize ABSs (
alternative business structures, i.e., commercial & other investors able to own law firms) is very relevant to law societies» ability to prosecute them in Canada for UPL (the unauthorized practice of law).
As an «
alternative business structure» it can employ staff (including solicitors) and offer a full range of legal services direct to the public, by no means limited to legal aid.
See my papers on Slaw: (1) «Legal Advice Services Can not be Automated by
Alternative Business Structures,» October 10, 2014; (2) «CanLII
as the solution to the unaffordable legal services problem,» October 24, 2013; (3) «LSUC's Worrisome ABS Proposals,» November 25, 2014.
The BMO report is somewhat timely
as it comes just before the Canadian Bar Association is expected to release its much - anticipated Futures report at its annual meeting next month, which will address the issue of
alternative business structures for law.
The Law Society of Upper Canada has reignited the debate over
alternative business structures as it considers a new measure that looks to
In England and Wales, they are referred to in common speech
as «
alternative business structures» or «ABSs,» and in the formal legal texts
as «licensed bodies.»
The article entitled
Alternative Business Structures: Good for the Public, Good for the Lawyers claims that the addition of an ABS as a business format in which lawyers can practice would be beneficial to both clients and the pro
Business Structures: Good for the Public, Good for the Lawyers claims that the addition of an ABS
as a
business format in which lawyers can practice would be beneficial to both clients and the pro
business format in which lawyers can practice would be beneficial to both clients and the profession.
It was a bringing together of international speakers, thinkers and interested parties to discuss the possibility of allowing
Alternative Business Structures (ABS) in Ontario — read: allowing outside investment in legal services providers,
as is permitted in the UK and Australia.
What we found we were doing was establishing what the lingo describes
as an «
alternative business structure.»
But it is the innovation of: (1)
alternative legal services that cut costs by cutting the competence of the people who deliver the legal services; (2) the commercialization and industrial production of legal services (such
as, LegalX, LegalZoom, LegalZoom (Canada), Axiom, and, Neota Logic); and, (3) of ownership of law firms by investors referred to
as, «
alternative business structures.»
As we're on the topic of alternative business structures (ABS) in the legal profession, I'm just curious as to whether there is any speculation with regard to the new `
As we're on the topic of
alternative business structures (ABS) in the legal profession, I'm just curious
as to whether there is any speculation with regard to the new `
as to whether there is any speculation with regard to the new ``.
As is apparent from the OTLA, and the many comments on my previous post, the upcoming Bencher elections in Ontario finally have an issue that has grabbed the attention of lawyers across the province:
Alternative Business Structures.
Depending upon the applicant's proposed
business strategy and
structure, the OCC may require an applicant to include an
alternative business strategy detailing how the SPNB will manage potential scenarios when expectations such
as operating expenses, marketing costs or growth rates differ significantly from the original plan;
These
alternative business structures include non-lawyer ownership of firms,
as well
as «one - stop shop»
structures that include a range of professional services, legal and otherwise, for clients.
It was already considered a trailblazer
as one of the first in - house legal teams to obtain an
alternative business structure licence, and for launching its successful legal process outsourcing venture.
Traditionally thought of
as lumbering elephants, taking decades to change pace and direction, law firms are recognising that
alternative business structures and new technologies are the passport to
business survival.
We've identified the Legal Services Act and the introduction of
alternative business structures as an opportunity to grow our
business and change our
structure.
Conspicuously absent from the Policy Framework (
as well
as from the packages of legislative amendments) is any express reference to «
alternative business structure» or the use of any comparable expression.
[53] «The following entities are registered with IPReg
as at 30 May 2017,» IPReg, http://ipreg.org.uk/wp-content/files/2017/05/Registered-Bodies-List-170530.pdf; Bar Standards Board, «Entities, Including
Alternative Business Structures,» accessed June 19, 2017, https://www.barstandardsboard.org.uk/regulatory-requirements/entities,-including-
alternative-
business-
structures/.
[9] One of the first orders of
business for the Commission in February 2010 was to appoint working groups, one of which was referred to as «Law Firm Regulation / Alternative Business Structures
business for the Commission in February 2010 was to appoint working groups, one of which was referred to
as «Law Firm Regulation /
Alternative Business Structures
Business Structures.»
Further, if you peruse the NSBS website and its supporting documentation, such
as the Council meeting minutes, you would be very hard pressed to find references to
alternative structures, «
alternative business structures» or «ABS.»