A fixed-price legal services provider today became the first new entrant of the alternative business structure era to enter the commercial market. Riverview Law, backed with funding from global firm DLA Piper, aims to attract every type of client from small and medium-sized businesses to large corporations.

The firm’s offer includes annual contracts providing unlimited legal advice, the scrapping of hourly billing and fixed fees on all services. Large organisations will be invited to outsource in-house legal functions to Riverview Law, also at a fixed price. A team of around 75 lawyers has been recruited, including 43 barristers - 12 Queen's counsel, to provide legal support in a corporate - rather than partnership - structure.

The new firm is a trading name of LawVest Ltd, whose shareholders include DLA Piper and AdvisorPlus, a provider of outsourced HR, employment and health and safety advice.

LawVest’s chief executive, Karl Chapman (pictured), said: ‘We have many advantages law firms don’t have; we started with a blank piece of paper, we spent time talking to businesses about what they want, and then we designed an operating and customer service model that delivers it - top lawyers, legal assistants and customer support people, combined with end-to-end technology and low overheads.

‘Some law firms have already said to us that it won’t work because it’s impossible to deliver comprehensive fixed pricing. Our response is simple: maybe you can’t deliver fixed pricing, but we can.’ Riverview Law says it can offer businesses with up to 1,000 employees annual contracts for all their day-to-day legal support from £200 a month.

The level of funding from DLA Piper has not been disclosed, but the deal raises the possibility of the established firm competing for business with its new partner. DLA Piper co-chief executive Sir Nigel Knowles is the non-executive chairman of LawVest.