Laurel Terry's "Top Ten International Legal Profession Stories of 2012" - Legal Ethics Forum

Prof. Laurel Terry has compiled a list of the top 10 legal ethics issues of 2012.  Although the Jacoby & Myers challenge seems headed to another court, we will inevitably face the issues of non-lawyer ownership of law firms.  Although we have toyed with partnerships of lawyers and accountants, the Brits have gone whole hog with "alternative business structures". If we follow their path you will graduate from law school and start off at Sears, Walmart, or Lowes. - GWC
Legal Ethics Forum: Laurel Terry's "Top Ten International Legal Profession Stories of 2012":

Top Ten International Legal Profession Stories of 2012

Laurel Terry (LTerry@psu.edu), Penn State Dickinson School of Law, USA 

1. 1.      ABS Goes Live in the UK

2012 was the year that the UK Solicitors Regulation Authority issued alternative business structure licenses.  The stage had been set by the 2007 UK Legal Services Act which created a regulatory framework that allowed (and arguably encouraged) ABS.   After years of discussion in articles and at conferences, it finally happened.  I predict that ABS will dramatically reshape legal services not only in England and Wales, but elsewhere in the world.  ABS licenses have been issued to, among others, The Co-Operative, which is a mutually-held company that operates grocery, travel, financial services, and funeral service businesses and plans to add 3,000 solicitors in the next five years to challenge the traditional  “High [Main] Street” firms.  Additional ABS licenses have been issued to an arm of Australian publicly-traded law firm Slater & Gordon (Russell Jones & Walker), UK firm Irwin Mitchell,  legal expenses insurer Abbey Protection, a claims management company called Parabis that has private equity backing, and a consultancy headed by Cherie Booth QC.  Transatlantic law firm DLA Piper has an ownership interest in LawVest, which reportedly has applied for an ABS license.

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