Hill Dickinson and Kennedys have become the latest top 50 law firms to confirm plans to convert to an alternative business structure (ABS), as growing numbers of firms gear up for the “Tesco Law” revolution.
DAC Beachcroft and Withers, as well as Keoghs, are all actively considering an ABS conversion, which permits non-lawyer ownership of law firms through either external capital injections or a float and allows law firms to tag on non-legal services.
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