James Caan Making a Change in the Legal World
James Caan entrepreneur and former BBCs Dragons’ Den investor is set to use his 25 years of business experience and enter the legal world by investing into the Midlands practice, Knights Solicitors LLP. The news that was announced in June is set to catapult Knights Solicitors into the top 100 UK law firms within the next three to five years. James Caan explains “Lawyers are good at words, not numbers, so bringing in external people will have a transformative impact”. James Caan’s name will attract a great deal of publicity which may make it easier to attract new talent.
The article explains how the traditional law firms’ business model can be outdated and may not be fully effective in the context of today’s highly competitive and cost conscious environment: in particular, the distribution of all profits every year to partners. By implementing a new business structure and introducing external investment, this will allow people with different skills and experience to enter into the business. The aim is to grow the business utilising a conventional business structure: Caan is also set to develop the company and capitalise on the brand by adding on new sectors such as Knights Real Estate.
To read further about this latest alternative business structure please read the full article at James Caan - The Lawyer Magazine