LDPs, ABSs & MDPs...Dr Clare McConnell unravels the changes springing from LSA 2007
The legal profession’s conservatism, with a small “c”, is proverbial. Its development has, in general, tended to be slow-moving and linear. Despite that it has occasionally undergone seismic shifts. In the late 19th century it underwent such a radical shock as attorneys, proctors and solicitors were brought together and replaced by the solicitor.
It faces such a seismic shift now with the Legal Services Act 2007’s (LSA 2007) enactment and the introduction of: legal disciplinary partnerships (LDPs) on 31 March 2009; alternative business structures (ABSs) by 2011 or 2012; and multi-disciplinary partnerships (MDPs), a form of ABS.
Early evidence suggests that these changes will have little effect as few firms—have, as yet, taken advantage of the opportunity to opt for LDP status. Early evidence is often deceptive, however. It is more than likely that as time goes on more firms will adopt LDP status by appointing barristers, patent and trade mark attorneys, law costs draftsman and ILEX members as partners.
Changing culture
Such changes will begin
