Sixth SRA-approved alternative business structure announced
Plainlaw, a niche firm specialising in property, housing and construction law, has become the sixth practice to be granted alternative business structure (ABS) status by the Solicitors Regulation Authority (SRA).
Senior partner, Philip Horn who is now both head of legal practice and of finance and administration for the ABS is excited about the opportunities the licence gives the Oxfordshire-based practice.
“[Becoming an ABS gives the firm] additional flexibility in terms of structuring our business going forward. Our interest in the concept of ABS is driven by the potential it offers us for the future, than by our current circumstances, where we are not intending any immediate change.
“Our focus will remain on providing a City of London-style real estate service but at provincial fee rates. We have developed a niche in providing an on-demand real estate support service to other leading law firms, many of whom will themselves be considering the benefits of converting to ABS status.”¹¹Legal Futures (May 2012)
Content correct at time of publication