Advantages & Disadvantages of Alternative Business Structures

Question 1

Advantages

Answer 1

• There’s demand for a one stop facility.
• ABSs give direct access to a range of specialists in the same business.
• ABSs allow free market competition and this should keep fees at a lower level.
• It gives clients a choice of a traditional firm or an ABS.
• Solicitors and barristers should have the choice of how to practice.

Question 2

Disadvantages

Answer 2

• Legal profession must be independent in order to maintain its role of protecting individual liberties.
• Increased risk of conflict of interest.
• May be problems regulating lawyers and non-lawyers professional conduct.
• There’s a risk that all the best lawyers would be concentrated in a small number of firms - all solicitors have access to the top barristers at the independent bar.