In 1823, several prominent attorneys met to call for the formation of `The London Law Institution` to raise the reputation of the profession by setting standards and ensuring good practice. The Society was founded on 2 June 1825, when a committee of management was appointed. The Society acquired it`s first royal charter in 1831, and opened a new building in Chancery Lane, in 1832. A new Charter in 1845 defined the Society as an independent, private body servicing the affairs of the profession like other professional, literary and scientific bodies. One important aspect of our representative work is to negotiate fair rates of pay for solicitors undertaking publicly-funded work. The Law Society is keen to ensure that sufficient solicitors are encouraged, through fair remuneration, to continue to do this work in the interests of securing access to justice for the most needy. Another important area of our representative work is in opening up new markets for solicitors practising in England and Wales and, also abroad for those solicitors who wish to serve their international clients locally. As the standard-setter for solicitors, we work, in both our regulatory and representative capacities to promote solicitors who can demonstrate specialist skill and high standards of practice. Our Royal Charter of 1845 still provides the constitutional basis for much of our corporate governance. The principal 1845 Charter provided for the incorporation of the Society and the establishment of our governing body - the Council. Our regulatory powers have since been underpinned by statute: the Solicitors Act 1974, the Courts and Legal Services Act 1990 and the Access to Justice Act 1999.