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In Praise of Partnership: How Effective is the LLP Structure to Support Growth & Governance in Professional Services Firms? – Ten-Minute Talk

There has been much talk over recent years about the demise of the partnership model and whether it remains fit for purpose for professional services firms. Our partners Clare MurrayZulon Begum and Corinne Staves discuss whether such proclamations are premature and debunk some myths about partnerships and LLPs, including those below, in this Ten(-ish) Minute Talk ‘In Praise Of Partnership’.

In this Ten-Minute Talk, Clare, Zulon and Corinne discuss:

  1. Can the LLP structure support strategic growth and external investment in professional services firms?
  2. What are the biggest benefits to professional services using the LLP structure?
  3. As firms get bigger, and key decision-making becomes more centralised in management teams, is the partnership model still the most effective vehicle?
  4. There’s been some discussion that firms wanting to list on the Stock Exchange will have to give up their LLP structure and convert to a limited company status – is that true?
  5. What about firms that want to provide for employee ownership – can they do that and still retain their partnership structure?
  6. What can firms do to get the most out of their partnership structure and make sure it really is fit for purpose and to support future growth and opportunities?
  7. Are there any issues on the horizon for LLPs and partnerships for which firms should be preparing now?
  8. The partnership model – in decline or alive and kicking?

For further information about our Partnership practice, click here. 

For more information on any of the issues discussed in this video, please contact Managing Partner Clare Murray, or Partners Zulon Begum and Corinne Staves