The success and stability of any professional services firm will often depend on its ability to retain its best people. There are of course many “push” and “pull” factors (some of which will be outside the firm’s control) that will determine whether some partners remain committed to a firm. Long-term home working during the pandemic
The LLP Agreement of any professional firm is a living document, as it is a constant reference point throughout the business cycle of the firm. As well as containing day-to-day management and decision-making provisions, an LLP Agreement needs to adequately address all of the crucial junctures commonly faced by professional services firms, for example partner
Recent changes to working practices and attitudes of the next generation of professional advisers have reignited an old debate on whether a Limited Liability Partnership (“LLP”) is the most desirable legal structure for today’s professional services practices.
Many practices are structured as either an LLP or a private limited company (“Company”). There are also some
As the economy starts to emerge from the impact of the COVID-19 pandemic and multiple lockdowns, many law firms will be considering not only how they can ensure the firm survives but how to bounce back stronger and more resilient to the economic challenges they may have faced during the past year. This might include
The transition that any firm must undergo if it is to survive and thrive after its founders retire affects every aspect of the organisation. It is at the same time both strategic and intensely personal. For founding partners, it involves giving up control of an organisation that in many cases defines who they are and