Deregulation of the Law Professions: The Example of Alternative Business Structures in England and Wales
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The 2007 reform creating Alternative Business Structures (ABSs) in England and Wales has not proved overly successful. Beyond the complexity of the statute, legal professionals blame the legislator for imposing the reform on them with a view to making up for the State’s disinvolvement in access to law, under the pretext of giving a boost to the supply of legal services. However, the risks which the active role played by outside investors in ABSs represent for the legal professionals and the consumers might outweigh the advantage conferred by increased interdisciplinarity. Eventually, all the traditional structures of the legal professions are likely to be affected by the deregulation together with the quality of the legal services they deliver.
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