AN Edinburgh legal firm says it is the first law practice in the UK to create an employee-owned company.
Fox and Partners, which specialises in equality and employment law, will give all nine employees an owning stake in the new entity, as well as representation within new management arrangements.
Founder Carol Fox said: “We are going an extra step to ensure we practice what we preach by promoting equality and good employment practice.
“We are very excited that every member of staff will have a stake in the future of the business and are embracing ownership wholeheartedly.”
Austin Lafferty, president of Law Society of Scotland, welcomed the “exciting initiative”. He said: “The legal profession is at a crossroads in a changing world which presents many challenges. Employee ownership is a groundbreaking opportunity to take the legal profession in a new direction.”