The Legal Services Board (LSB) has today published its latest thinking on the impact of Alternative Business Structures (ABS) on the legal services market. The document, informed by engagement with regulators, existing providers and potential new entrants, brings together evidence and current thinking on how the market may develop following the emergence of the first ABS from 6 October 2011.
The research provides an in-depth study of the market and its key components, as well as a detailed outlook on the possible changes that may happen with the introduction of ABS. Importantly, the likely impact of these new forms of legal practice is considered across different segments of the market, from the larger city firms to the more traditional high-street practice. It also highlights the differing ways in which changes to market structure may have an impact on the diversity of the legal workforce.
The delivery of the licensing regime for ABS was one of the three early priorities for the Board. Opening up the legal services market was one of the core elements of the reform agenda for legal services set out by Parliament through the Legal Services Act 2007. The LSB is committed to monitoring the way in which the market changes over time and this document captures current trends, against which future developments can be tracked and assessed.
No comments:
Post a Comment