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An Essex full-service law firm has become an alternative business structure in order to further its ambitious expansion plans. Birkett Long is looking to establish a group structure.

A ‘virtual’ chambers that supports direct access work has set up an alternative business structure, as has a niche financial services chambers, which become the second and third to be regulated by the Bar Standards Board. It licensed its first ABS, a collaboration between a London chambers and football agents, earlier this month.

A one-stop shop for SMEs launched this week has set itself the goal of changing both the way legal and financial services are delivered and the way professionals work. By employing a “doubly disruptive philosophy”, it might be possible to break free not only of traditional business models but of traditional labels such as lawyer or accountant, the firm says.

A company founded by an ex-Premier League footballer to help people buy and invest in overseas property has converted into an alternative business structure so as to bring legal work in-house. Judicare Law International also seeks to protect investors in foreign property from losing money to developers in collapsed schemes and scams.

Freeing up the rules on licensing alternative business structures will help the Solicitors Regulation Authority deal with more complex applications, such as those from businesses that form part of a group or have private equity investment, it has told the government.