Will your skills fit the bill?
With the legal market opening up and more alternative business structures (ABSs) emerging each year, what kind of future can business services professionals expect from the legal sector?
As law firms seek new ways to increase capital value and drive profitability, ABSs are proving an appealing vehicle to do so. This brings with it great opportunity for business services professionals to help firms make the transition. Even for firms that don’t go down the ABS route, we are seeing business services professionals now playing a pivotal role in driving a firm forward.
These roles are increasingly being considered much less back office/support in their nature. Roles and individuals are becoming less administrative and more commercial. Individuals have accountability directly attributable to the success of the business and they are and should be required to make big and quick decisions. Firms who make the transition to ABS status also have the opportunity to allow non-lawyers to take on equity partner status and have a genuine stake in the business…
Click on the link below to read the rest of the Totum briefing.
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Briefings from Totum
With firms looking more broadly for the right finance expertise, it has never been more important to understand the challenges of heading up the finance function in law.
The legal profession has been on quite a transformative journey.