Legal Mosaic Essays on Legal Delivery

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<strong>Legal</strong> <strong>Mosaic</strong>: <strong>Essays</strong> on <strong>Legal</strong> Delivery by some imposing competitors as well as by an increasing number of clients willing to entertain new legal delivery options, some of whom they are already well-acquainted with. 68
<strong>Legal</strong> <strong>Mosaic</strong>: <strong>Essays</strong> on <strong>Legal</strong> Delivery More Big Ripples From Across the Pond The signs are legion that the <strong>Legal</strong> Services Act of 2007 (sometimes referred to herein as The Act)--which did not take effect until October, 2011-- is evincing a major impact upon the UK legal market and beyond. Scores of firms have secured licensure as “Alternative Business Structures”, enabling them to raise capital as well as share profits with non-lawyers, engage in inter-disciplinary practice, and confer equity upon non-lawyers who are increasingly becoming key contributors. The Act has spawned a more client-centric approach to the delivery of legal services that extends from High Street (retail) firms to the Magic Circle. Most of all, the proliferation of new models and heightened competition has rendered legal service providers subject to the same expectations of efficiency, transparency, and value as other businesses. The repercussions of the Act are being felt far beyond the UK domestic market. This blog has previously considered the forays of white-shoe law firm Cahill Gordon and IT/document powerhouse <strong>Legal</strong> Zoom into ABS licensure (the former through its UK LLP). But the migration to the UK and the lure of operating in its re-regulated ABS environment has cast a far wider net than these two prominent US providers. Three of the BigFour accounting firms now have ABS licenses, and firms from around the globe including Australian-based Slaters-- the first law firm in the world to launch an IPO (2007 in Australia) are operating there too. The UK legal marketplace is swingin’ (though not in the same way that produced “The British Invasion” and Carnaby Street), in part because of the Act and also due to London’s emergence as the economic capital not only of the UK but also, arguably, the world. Is it any wonder then, that the UK has established itself as the epicenter of innovation in the 69
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Legal Mosaic Essays on Legal Delivery

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