Alternative Business Structures

Alternative Business Structures (ABS) refer to a type of legal entity that allows non-lawyers to own, invest in, or manage law firms alongside legal professionals. Introduced to increase competition and innovation in the legal market, ABS enables diverse business practices, including multidisciplinary services. This means law firms can collaborate with professionals from fields like finance or technology, providing clients with comprehensive solutions under one roof. ABS promote a more modern approach to legal services, potentially improving accessibility and affordability while maintaining professional standards and client protections.