In a national and international effort to truly incentivize technology, business and other professionals to work at law firms, lawyers are pushing to expand ownership abilities. Some legal observers welcome the change, arguing that law firms’ future will only flourish if professionals with various expertise have a say in the legal service delivery.
Last week, Reed Smith joined the initiative to expand ownership when its alternative business structure (ABS) request was granted in the U.K. Reed Smith Europe and Middle East managing partner Tamara Box said the firm considered ABS to improve talent acquisition and retention of highly skilled multidisciplinary professionals. She added that with the ABS structure, the firm is “able to say to people in whatever capacity, you can be an owner in this business, that this is a career path to you.”
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