For the good of the company
As the collapse of Andersen demonstrated, LLP status can be a vital safety net for even the most stable professional services firm. But limiting professional liability is not the only reason why law firm managers should find taking LLP an attractive prospect, says Peter Scott
A recent survey by Legal Week (The Big Question, 8 May) revealed that leading law firms do not believe a move to adopt Limited Liability Partnership (LLP) status will make them less collegiate. Fully 82% predicted that converting firms would experience no change in culture.
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