Irwin Mitchell Welcomes Legal Services Act
Legal Services Act
31/10/2007
The Legal Services Act, which received Royal Assent yesterday, has been welcomed by law firm Irwin Mitchell, the largest, most diverse supplier of commoditised legal services in the UK.
The major reforms in the Act introduce the possibility of lawyers and non-lawyers going into business together to develop consumer friendly legal solutions, eradicating the current restrictions on non-lawyers participating in the ownership of law firms.
Senior Partner of Irwin Mitchell, Michael Napier CBE QC said: "As a progressive, consumer-focused firm we welcome the opportunity for lawyers to partner with non-lawyer professionals and outside investors to improve the provision of legal services. We already have close relationships with many institutions to meet the demands of their customers within the rapidly changing legal market place.
"Our 'Law Support' package, supported by an in-house 24/7 legal helpline, provides tailored 'own brand' legal services for an organisation’s employees and customers."
The Act will allow changes to the traditional partnership model and outside investors will be allowed to share ownership of law firms subject to their fitness to do so.
Mr Napier said: “The Government decision to allow the immediate implementation of Legal Disciplinary Practices (LDP’s) is a really important first step. The Solicitors Regulation Authority (SRA) must swiftly set up the mechanism to allow us to take into partnership non-lawyers and other professionals who make a huge contribution to a modern law firm like ours."
Equally urgent is the mechanism to allow ABS's to permit the investment of external equity in law firms.
Mr Napier continued: "We want to develop even better legal services to our clients on a level playing field with the non lawyer competition that will eagerly now enter the legal services market. If we have to wait the 3 years that has been reported before ABS's can be set up we and the profession generally risk being left behind."