Irwin Mitchell has become the largest U.K. law firm to date to receive its alternative business structure (ABS) license from the Solicitors Regulation Authority (SRA), with the regulator on Monday confirming that it had approved the firm’s conversion.
The top 20 U.K. firm has also become the first to have multiple licenses approved, with five different entities within the Irwin Mitchell Group gaining ABS licenses, which allow non-lawyers to own stakes in law firms and the possibility of external investment.
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