The Trial Lawyer Fall 2024 | Page 26

scrutiny involved in the licensure and yearly renewals is akin to enduring the State Bar ’ s Character and Fitness evaluation every year for nearly everyone with a stake in owning or running the firm .

EMBRACING NEW OPPORTUNITIES

In the third year since that sweeping regulatory reform in Arizona , many ABS are thriving . To date there are 89 approved ABS , with 40 waiting to have their applications researched / reviewed by Court staff / ABS Committee before being scheduled on the Agenda to be considered for licensure at one of the almost monthly Committee meetings . Among the licensed ABS , we have witnessed unprecedented growth in many of those law firms . Much of this growth is the result of leaning into a new business model of combining business and legal skills , which puts ABS in a position of strength at the outset . Most attorneys who start a new law firm are limited in resources , how much they have to invest in the firm , how much experience they have in operating a business , or even how many clients they can help as they get their law firm up and running . Contrary to most new law firms , a fully funded ABS is able to immediately implement an aggressive business plan for

growth . This ABS vehicle allows : a high level of client services to a significant number of clients ; the development and use of cutting-edge technology to enhance client representation ; and the implementation of strong local and national marketing .

CALLING BIG FIGURE WRANGLERS

Undeniably , when a law firm is no longer restricted in its structure , hiring capabilities , and ownership – the possibilities are endless . We have seen a plethora of unique combinations of ABS so far , including those involving : Criminal Record Expungement , Family Law , Healthcare , Immigration , Intellectual Property , Personal Injury , Mass Torts , Real Estate , Self-service Platforms , Taxation & Financial Planning , Veteran ’ s Disability / Rights , and even an International Pilots Group . Big Auto put together a board of managers that includes lawyers and nonlawyers with expertise in capital management , business strategy , marketing , analytics , and law firm operations . The team we have assembled combines decades of success in key areas of business and law . This gives our team resources that few other law firms in the country have and has led to our rapid growth . We were also able to hire locally and choose from the crème de la crème of applicants .

With unparalleled resources , many ABS have had immediate success with their respective core business objectives . Tangential professionals of various specialties are now able to combine efforts in an ABS , thereby allowing each professional to leverage their relationships , pool their clients , and ultimately provide more comprehensive support to each and every client .

LASSOING THE BIG GUNS

The ABS format allows owners and managers , many of whom are top tier attorneys ( in other states ) and legal services companies with significant experience and capital to contribute , to operate a firm without having to take the bar . These ABS can then build relationships with established successful law firms throughout the U . S . These managers and owners can contribute to the success of the ABS in a more tutorial , distant role while Arizona licensed attorneys provide the legal services . A significant energy that many have harnessed is directly tied to the respective relationships with top law firms throughout the country . Utilizing networking opportunities bolsters the capability to help clients . Co-counseling with the right firm for each individual case , based on the client ’ s needs and location of the accident is key . Leaning into the decades of success each cocounsel firm has achieved and using that experience to a clients ’ advantage allows an attorney to provide more clients with access to justice and representation they otherwise would not have .

POTENTIAL PERSNICKETY ISSUES

In January 2024 , House Bill 2638 was introduced , which purported to “ ensure transparency ” and “ protect consumers ” with the institution of infeasible disclosure requirements on third-party litigation funders and attorneys , among other things . 2 The National ABS Law Firm Association , at the direction of President Don Bivens and supported