You are here:
  1. Home
  2. Support services
  3. Advice
  4. Practice notes
  5. Alternative business structures

Alternative business structures

Last updated: 21 May 2018
The Legal Services Act 2007 allows non-lawyers to own and invest in law firms. This practice note provides details on ABSs and how to apply to become one.

Legal status

This practice note is the Law Society's view of good practice in this area. It is not legal advice.

Practice notes are issued by the Law Society for the use and benefit of its members. They represent the Law Society's view of good practice in a particular area. They are not intended to be the only standard of good practice that solicitors can follow. You are not required to follow them, but doing so will make it easier to account to oversight bodies for your actions.

Practice notes are not legal advice, nor do they necessarily provide a defence to complaints of misconduct or of inadequate professional service. While care has been taken to ensure that they are accurate, up to date and useful, the Law Society will not accept any legal liability in relation to them.

For queries or comments on this practice note contact the Law Society's Practice Advice Service.

Professional conduct

The following parts of the SRA Handbook are relevant:

  • SRA Practice Framework Rules
  • SRA Authorisation Rules

SRA Principles

There are ten mandatory principles which apply to all those the SRA regulates and to all aspects of practice. The principles can be found in the SRA Handbook.

The SRA Overseas Rules 2013 apply to regulated individuals practising overseas and to responsible authorised bodies.

Sign In or Register

This is premium content

To access premium content login to My Law Society.

Not registered? My Law Society is free and open to all users. Register below.

Not registered?

Registration is free and will only take a couple of minutes.

If you are a member of The Law Society you can use your MySRA account details to register.

Register
Update your contact preferences

Update your details in My Law Society and tell us how you want to hear from us.

Practice Advice Service

The Practice Advice Service provides a dedicated support line for Law Society members and employees of law firms. Call us on 020 7320 5675.

> Contact the Practice Advice Service
Previous versions

Previous versions of this page are available below:

Recommended

calendar
Law Management Section annual conference 2019

An unmissable day of topical conference sessions and interactive panel discussions, alongside valuable networking opportunities

Law Management Section annual conference 2019 > More
AML thumb print
Anti-money Laundering Annual Conference 2019

Hear from industry experts on the latest developments in anti-money laundering compliance

Anti-money Laundering Annual Conference 2019 > More
Conveyancing Quality Scheme Accreditation
Conveyancing Quality Scheme

Awarded to law firms that meet the required standards of technical expertise and client service in conveyancing with its CQS accreditation. Look out for it on Find a Solicitor search results.

Conveyancing Quality Scheme > More
crowd of people
Diversity and intersectionality panel event

On Tuesday 14 May, join lawyers from different diversity strands as they share insights and draw on the impact of mental health across different demographic communities.

Diversity and intersectionality panel event > More
Law Management Community
Law Management - Your partner in practice

Our community for partners, leaders and practice managers in legal businesses provides advice, information and the support you need.

Law Management - Your partner in practice > More