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First solicitor-barrister legal partnership starts up

The first solicitor-barrister legal partnership to be formed under the new regulatory framework has been welcomed by the Legal Services Regulatory Authority (LSRA).

Simmons & Simmons (Ireland) LLP is the first law firm in Ireland to notify the regulator that it is to begin operating as a solicitor-barrister legal partnership under this alternative business structure.

Legal partnerships are a new business structure that, for the first time, allows solicitors to form partnerships with barristers, and barristers to form partnerships with other barristers, to deliver legal services to consumers.

Suite of regulations

The regulatory framework for legal partnerships consists of a suite of regulations and a new code of practice for practising barristers, all of which commenced on 26 September 2024.

The introduction of legal partnerships broadens the scope of business models available to legal practitioners, allowing for greater flexibility and diversity of services delivered.

Prior to the introduction of the legal framework for legal partnerships, only solicitors were permitted to form partnerships with other solicitors.

Under the new framework, legal partnerships must notify the LSRA of their intention to deliver legal services.

Commenting, Dr Brian Doherty of the LSRA said: “The LSRA is very pleased to welcome Ireland’s first legal partnership within weeks of the enabling regulatory framework being established."

Innovation

“Legal partnerships are an innovation in the Irish legal-services market, which will help modernise the provision of legal services and yield benefits for both legal practitioners and clients alike.

“Barristers and solicitors practising in partnerships will benefit from the efficiencies that flow from a group practice, such as being able to share backroom costs and client work, as well as risks. Consumers, in turn, will be offered expanded choices when availing of legal services.”

Rachel Stanton (country head, Simmons & Simmons Ireland LLP) said: “We believe that this model will set the standard for legal excellence and client service in the international legal arena. We commend Minister McEntee and the LSRA for their efforts in bringing these legal partnerships into existence.”

An LSRA-commissioned Ipsos B&A survey showed that six in ten legal practitioners were in favour of the new business structure, with one in five indicating that their law firm would likely become a solicitor-barrister partnership in the next five years.

The business structure would lead to efficiencies and cost savings by sharing the resources of solicitors and barristers, the survey found.

Litigation and dispute resolution, and environmental planning were the areas that solicitors believed would benefit the most from their introduction, according to the survey.