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Alternative Business Structures

However right now, firms are dropping hints as to their strategies post October 2011 increasingly often and the Legal Services Board hasrevealed high levels of interest from investors.  There are a number of high profile firms reporting structural changes to allow for external investment, as well as launching additional legal services to tap into the customer base of major retail, insurance and financial services companies. 

Of course, for every tale of vaulted ambition in legal services there is a counterbalancing story of the difficulties the sector will face. Accounting firm Baker Tilly revealed research at the Legal Futures conference, as reported in the Financial Times that about half of law firms have lost or expect to lose work to non-legal competitors in the deregulated market.