Anna Bradley predicts a bright future for alternative business structures
Alternative business structures (ABSs) could be the catalyst for dramatic change in the shape and culture of the legal sector. On 6 October providers were given a new opportunity to deliver what their consumers need, in the way they want to access it. This landmark change represents a huge opportunity for forward-thinking legal service providers and that is why the Council for Licensed Conveyancers (CLC) has grasped the chance to be the first to licence ABS.
The CLC record
The CLC is itself a creature of innovation, established in 1985 to open up the conveyancing market to non-solicitors, creating more consumer choice. It now regulates over 200 recognised bodies and over a thousand individuals—some 10%-15% of the conveyancing market by turnover.
The CLC believes in the benefits of opening up the legal services market to make it more competitive and focused on the consumers it should serve. The CLC’s designation as a licensing authority is a symbol of willingness to embrace change and spearhead the new arrangements.
The ABS approach
The
