Report comment

The financial model for legal work of the future is becoming clear. Big name ABS companies will do the selling and get the clients signed up. The actual legal work will be outsourced to firms of solicitors who will compete on price for the contracts. The winning model for driving down overheads will ultra cheap offices (converted chicken sheds will prove popular) and a staff of para legals on the minimum wage. They will be motivated by telling them that highest billing ones will get training contracts. So, although their contracted hours are only 25 a week, they will actually work an extra 50 hours a week unpaid to hit their targets. To drive down staff costs even further, all staff will have to work lengthy unpaid internships before getting a job. PII costs will be all but eliminated by the owners setting up a £100 unrated insurance company to offer insurance that is nominally SRA compliant. The solicitors will also be a £100 limited company which will pre pack itself in the event of a substantial claim or when debts have built up. Heating costs will be minimised by packing staff very closely together.