1. Alternative Business Structures in the UK Matthew Dixon Chairman of the Joint Business Practice Committee Chartered Institute of Patent Attorneys Institute of Trade Mark Attorneys

2. Legal Services Act 2007 The regulatory objectives: protecting and promoting the public interest; supporting the constitutional principle of the rule of law; improving access to justice; protecting and promoting the interests of consumers; promoting competition in the provision of services provided by authorised persons (including non-reserved services) encouraging an independent, strong, diverse and effective legal profession; increasing public understanding of the citizen's legal rights and duties; promoting and maintaining adherence to the professional principles.

3. Reserved legal activities in the UK Defined in the Legal Service Act 2007 the exercise of a right of audience; the conduct of litigation; reserved instrument activities; probate activities; notarial activities; the administration of oaths.

4. Approved regulators Regulated by approved regulators Solicitors Regulation Authority Bar Standards Board Intellectual Property Regulation Board Institute of Legal Executives Professional Standards Board Council for Licensed Conveyancers Costs Lawyer Standards Board Master of the Faculties (Notaries) Association of Chartered Certified Accountants (probate only)

5. What is an alternative business structure? Defined as a “licensable body”: “non-authorised person” is a “manager” or has an “interest”; or another body is a “manager” or has an “interest” and 10% of voting rights in that body are controlled by non-authorised persons. “Managers” are members, directors, partners. An “interest” is a 10% shareholding or shareholding with significant influence over the management of the company. Interest-holders must be approved: not compromise the regulatory objectives or duties of the body be a “fit and proper person”. Structure At least one manager who is an authorised person Head of Legal Practice (authorised person) Head of Finance and Administration (fit and proper person)

6. Licensed ABS companies – The Co-op Conveyancing Family law Will writing Probate Personal injury Employment law Fixed fees Telephone-based service Optional meetings No jargon “natural extension to the range of professional services... which includes banking, pharmacy and funeralcare”

7. Licensed ABS companies – Irwin Mitchell 113 Partners, 900+ Associates 9 UK offices General commercial and personal law Appointed former Vice-Chairman UK of PricewaterhouseCoopers, as Chairman of IMCO Holdings Ltd Appointed ex-Chair of KPMG’s Audit Committee to same role in IMCO “Receiving our licence also enables [new appointees] to take up their roles with us fully. Both are high quality and experienced additions to an already well-respected senior management team.”

8. Impact in the intellectual property field Patent and trade mark attorneys already operating in a range of structures Limited companies Publicly-traded company Multi-national structures More formal regulation for patent and trade mark attorneys Improved commercial management Easier to form a single firm with solicitors and even barristers More combined prosecution and litigation firms Extension of range of services Likely to maintain focus on IP or at least innovation May include accountants for tax and funding advice. Increased commoditisation?

9. Thank you Matthew Dixon Partner, Harrison Goddard Foote, London mdixon@hgf.com www.hgf.com