The international law firm has notified the Legal Services Regulatory Authority (LSRA) that it is adopting the new business structure, which allows solicitors to form partnerships with barristers and barristers to form partnerships with other barristers to deliver legal services to consumers.

Prior to the introduction of the legal framework for legal partnerships less than two months ago, only solicitors were permitted to form partnerships with other solicitors.

Dr Brian Doherty, CEO 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.

“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 at 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.”

Ahead of the introduction of legal partnerships, the LSRA commissioned Ipsos B&A to conduct a survey of legal practitioners which found that six in 10 were in favour of the new business structure, with one in 5 indicating that their law firm would likely become a solicitor-barrister partnership in the next five years.