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Drastic evolution is necessary to survive in the ever-competitive legal market

By Simon Gibson, Managing Partner, SGI Legal

1 August 2013

A few months ago, our firm applied for an alternative business structure (ABS) licence as part of our plan to lead by example in reshaping the way personal injury (PI) law firms operate. That license has now been granted by the Solicitors Regulation Authority.

The pace of change has been rapid in the PI sector. As the number of ABS licences issued has grown, a ban upon the payment of referral fees and the introduction of the Jackson reforms has been closely followed by a complete overhaul of the rules relating to recoverable legal costs.

When setting up SGI Legal in 2012, my view was that successful law firms of the future would be built upon excellent financial planning, robust capitalisation of the business and - above all - the most cutting-edge IT and business processes.

Legal expertise remains crucial to governance and client service. However, the role of the lawyer must change. Clients have not benefited as much as their lawyers have from ...

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