In the UK, non-lawyer ownership has been a feature of the legal industry for over a decade, bringing in private equity, corporate structures, and even stock market listings. The US legal service market is starting to see non-lawyer ownership of law firms, and in this podcast, The Lawyerist explores the UK experience with Partner Corinne Staves.
In this episode of Lawyerist, Corinne and host Stephanie Everett discuss the following:
- The current state of non-lawyer ownership of law firms in the UK, and how it has evolved over the past decade.
- How does flexibility in ownership and management structures impact law firms and their competitive environment?
- What are the concerns regarding ethical obligations and client experience when introducing non-lawyer owners?
- How do law firms ensure that client satisfaction remains a top priority amidst structural changes?
- The governance measures firms can implement in order to navigate the challenges of non-lawyer ownership.
- The benefits that have emerged from non-lawyer ownership in law firms.
- How are small and mid-sized firms responding to competitive pressures from larger firms and external investors?
- Best practice considerations for law firms thinking about external investment or changes in ownership structure.
- How might the regulatory landscape in the UK evolve in response to recent trends in law firm ownership and consolidation?
You can watch the podcast above or listen on Spotify.
If you would like to discuss any points arising from this podcast or if you have any questions relating to law firm ownership or structures, please contact Partners Corinne Staves or Zulon Begum, both of whom specialise in non-contentious partnership law.
