Alternative Business Structures (ABS)
Alternative business structures have had a transformational impact in delivering legal services. Our experienced corporate lawyers can advise on the most efficient and beneficial way to structure your ABS.
Alternative business structures were introduced by the Legal Services Act 2007. An ABS is an entity that, whilst providing reserved legal activities, allows non-lawyers to own or invest in law firms. This new flexibility opens a world of opportunities for external investment and innovative business models.
It is important to remember that the structure you choose has implications including tax and how you operate the business.
Law firm business structures come in a variety of forms. The traditional partnership or sole practitioner approach used to be the norm. However, there is now a multitude of options, no single structure works best for all firms and choosing the right one for your firm can be complex.
Free Initial Telephone Discussion
Contact us today for a no-obligation, free initial discussion about your circumstances. Simply call us on 0345 901 0445 or complete our online enquiry form and a member of the team will give you a call back as soon as possible.
When looking to set up an ABS, you should consider setting out an agreement between the owners or investors in the law firm.
Whichever route you take, an agreement is critical. It is always the best policy to tackle any issues from the outset and we can help advise on the best options for you.
How We Can Help
We understand that setting up a new law firm can be stressful. Using our experience and wealth of knowledge, we are able to offer expert advice on all corporate structure and ABS issues based on your individual requirements.
We are committed to providing you with a first-class service and helping guide you through the process.
We are able to clearly explain the legal issues and provide open, honest and professional advice.
How to Contact our Business Solicitors
To speak to our corporate solicitors today, simply call us on 0345 901 0445, or allow a member of the team to get back to you by filling in our online contact form. We are well known across the country and can assist wherever you are based. We also have offices based in Cheshire and London.