There has been a predictably mixed reaction to the launch of new outsourced training provider Acculaw, a venture which could have a dramatic impact on training among City firms. One obvious response is to ponder why no one has thought of this before - or if they have, why the concept has only now gained traction.

Olswang, which has signed up to pilot the scheme, neatly summarises the benefits - it allows firms to recruit trainees without the time delays inherent in the current process and offers a much greater degree of resource flexibility.

For aspiring City lawyers, however, a degree of ambivalence would appear to be justified. As the number of training contracts has declined, with legal process outsourcing bearing down on that number further, it offers trainees another way into a tight market.

But Acculaw will pay far less than top City firms, £20,000-plus a year. And it remains an open question how likely its trainee solicitors will be to secure a plum job when compared with those trainees who are recruited in the normal way.

Does it herald the evolution of a two-tier training model? And will it have a negative impact on diversity - or actually improve opportunities for the brightest graduates, as Acculaw maintains?

What seems more certain is that it is a very good business idea. It surely won’t be long before Acculaw spawns imitators.