Late in 2021, Elevate was the first law company to be granted an Alternative Business Structure license in the US by the Arizona Supreme Court. This Expert podcast features Elevate's CEO Liam Brown, our General Counsel, Steve Harmon and the Co-founders and Partners in Elevate's law firm, Nicole Auerbach and Pat Lamb. Crispin Passmore hosts this podcast episode. Crispin has been a resource to Elevate, consulting on our SRA ABS license in the UK and our ABS in Arizona.
[00:49] What is an ABS - and why did Elevate want one.
[03:34] 80% of the work done in corporate law departments does not require a licensed lawyer
[05:14] How did it work? Did Elevate face any challenges with the application process?
[07:05] The ABS license allows us to better service our customers. We can seamlessly
solve a customer’s problem without any elaborate explanation.
[11:36] The most successful lawyers in this model can see the solution from the customer's perspective; they value the multi-disciplinary approach.
[14:17] The ABS license allows for properly integrating the restricted practice of law into our broader law company deliverables.
[16:13] Today Elevate isan expert-led, technology-powered law company.
[18:02] As an ABS, is Elevate competing with the traditional law firms of our customers?
[20:42] As law firms exit their ALSPs, their focus will be competing with other law firms and the Big Four for core advice of law business.
[23:24] The emergence of ABS in the US is an important step; it's great for customers, it's great for lawyers, and it's excellent for those that innovate.