From 6 October, non-lawyers are now able to invest in and own legal businesses for the first time, allowing banks and supermarkets and other businesses to offer the services of a lawyer alongside groceries and other items.
The government said that the new Legal Services Act would provide more choice for the public, and Justice Minister Jonathan Djanogly said it was "a landmark day" for the
This is all very exciting and the change in the law, dubbed "Tesco Law" by some, although the supermarket giant has not committed to taking part, will no doubt have a significant impact on Law Firms and the way they present and market their services. However to what extent is yet to be seen…. since the MoJ is still yet to decide who can regulate what, and althought the Act has come into force, existing law firms can’t actually take advantage of the Legal Services Act until that is defined, probably early next year.
However the ball is definitely rolling and now is not the time for the legal industry to sit on their laurels.