ABSs to impact corporate legal services
The introduction of ABSs has come about as a result of the Legal Services Act and the intention to create a more competitive, diverse and flexible legal market. As a result of the act it is anticipated that some commercial lawyers will begin to work under the umbrellas of other types of businesses, such as accountancy firms.
According to many insiders this could prove difficult – many commercial lawyer firms have long histories and are likely to prove resistant to working under a new modus operandi.
Jack Diggle, industry expert and head of legal services at consultancy OMC Partners, comments, “An accountancy firm managing a legal organisation may well lead to that entity having a more corporate management structure. Given the appeal of hierarchies in traditional law firms, accountancy firms would have to go through quite a public-relations exercise to win over lawyers who may be reluctant to join that kind of structure, where the hierarchies are not as obvious.”News