Littleton Chambers' plan to set up a company offering mediation services is the most significant move yet to exploit new business opportunities offered by the Woolf Reforms.
Other high profile sets are likely to follow suit as mediation becomes more financially rewarding. But the likely boom does have a downside. While the number of big players in the market is still relatively small, consumers may unwisely choose to use cheaper bogus operators. The sector would be in danger of coming into disrepute because of a lack of regulation.
The Lord Chancellor and the Joint Mediation Forum must act quickly to introduce regulations and a code of conduct before less able exploiters jump on the bandwagon.