Scottish lawyers have formed the ABS Scotland Group ‘out of frustration with the Law Society of Scotland’s delays in implementing alternative business structures [ABSs] (or licensed legal service providers) in Scotland’
Although Holyrood passed the required Act of Parliament in 2010, there has been little progress since, and the Law Society of Scotland recently froze action on ABSs until at least 2027.
The group officially launched this week with the aim of bringing ABSs north of the border, and is urging lawyers to join to demonstrate their interest.
ABSs, which allow non-lawyers to share equity in law firms, have been allowed in England and Wales since 2011.
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