What could be closer to the heart of lawyers than their own partnership agreements? But as the introduction of the Legal Services Bill looms, partnership structures are likely to encounter a dramatic change in shape.
Much focus has been placed on whether firms will opt for external investment or even list on the London Stock Exchange or AIM, but another trend is also beginning to rear its head – the option to set up as a limited company.
However, the legal sector also waits with bated breath to see whether France has truly ironed out the difficulties with its tax regime – a barrier to many international firms’ conversion to limited-liability partnership (LLP) status.
This Partnership Special Report examines the LLP v limited company debate. It also reviews another of the hottest topics in the legal market – the recent age discrimination laws.