The Government is due to commence pushing the Legal Services Bill through next month and one of its main intentions is that, by the end of 2008, non-lawyers will be able to have ownership of a Law Firm.
Regulated buyers which will likely include, surveyors, accountants and , actuaries will to start with be allowed a small share of ownership in a Law Firm to begin with, but in time the plan is to allow anyone to be able to buy a law firm. Is this a good thing or a bad thing?
Many firms think that it is a good thing and in actual fact have already been preparing themselves for a sale when the reforms take place.
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