Articles

A view from the South – and what this might mean for Scotland

External equity has been allowed in England & Wales law firms since 2012, but how much activity has there really been, asks Chris Marston, Head of Professional Practices at Lloyds Banking Group 

External equity has been allowed in England & Wales law firms since the start of last year, when the Solicitors Regulation Authority began licensing Alternative Business Structures, and there’s

For Our Scottish Clients: New Law Society of Scotland Guidelines on Outsourcing

This article is specifically for our Scottish clients and those governed by The Law Society of Scotland.

On Monday the Law Society of Scotland issued Advice for the Profession in Scotland on Outsourcing.

When considering outsourcing, the Law Society suggests you check various things.

Why lawyers should Kiss more Frogs!

I attended the Scottish Law Society conference a couple of weeks ago. The highlight was a talk delivered by Bruce MacEwen, entitled “Growth Is Dead: Now What?”. In essence it was a summary of his book of the same name.

Bruce’s basic thesis is, now that Growth in big law firms has ground to a halt, to survive in the future, they need to change their business model radically.

Three ways to impress your bank manager

Chris Marston, Head of Professional Practices at Lloyds Banking Group, suggests some priorities for better financial performance.

The bulk of the provisions in the Legal Services (Scotland) Act 2010, establishing the regulatory frameworks for licensed providers, confirmation agents and will writers are not yet in force.

The Illusory Capital Account

I always found partnership capital accounts hard to understand. It was always that section of the Balance Sheet that Catherine had to explain to me again and again. Eventually I got it (I think) but it always seemed a bit esoteric.

However, it’s really important and getting more important. The problem is, for more and more firms, a partner’s capital account is illusory.