Private capital is gaining ground in legal services.
New Alternative Business Structure (ABS) frameworks in states like Arizona and Utah now allow nonlawyers to own equity in law firms, creating a pathway for direct investment in a sector long closed to outside capital. Early interest is focused on areas like personal injury, mass tort and estate planning, where high case volumes and limited tech adoption create room for transformation.
ABS models echo trends seen in healthcare and accounting, offering a blueprint for scaling through consolidation and operational upgrades. But risks (regulatory, reputational and structural) require careful navigation.
Download the full report to explore how the legal model is being redefined.
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