Andrew Woolley on Practice Management

What to do about Alternative Business Structures?

I recently spoke at a Law Society event on how to survive the Alternative Business Structures (ABS) issues. I was asked to explain my firm as an example of innovation. The assumption presumably being that innovation would mean coping with the advent of ABS.

It struck me that none of us were able to explain much about ABS except to talk about the regulations and what each of us thought might happen. Nobody really knows what will happen including the regulators and the Government. What an odd way to deal with such an important aspect of public and private life.

I suspect there will certainly be much more competition especially for the work that can be process driven so for example perhaps undefended divorce wills conveyancing contact terms and so on and that this competition may well come from outside the profession. How much will they want to charge us for giving us the...

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