The LLP: 25 Years On - Professional Practices Alliance Webinar

In this panel discussion, subject specialists share their expert insights into the interesting and challenging features of LLPs that they have seen over the last 25 years and what they see approaching on the horizon for LLPs. Jeremy Callman (Ten Old Square), Dr Robert Millard (Cambridge Strategy Group) and Corinne Staves (CM Murray LLP) join chair Sarah Chilton (CM Murray LLP) to explore the key benefits of using LLPs in professional services, the trends they have seen – including in LLP disputes – key tax changes and issues, strategic considerations as well as what the coming years may hold for LLPs. Their discussion addresses key questions and topics including: - How has the structure of LLPs developed since birth; what are some of the key elements of different LLP structures and their implications? - Financial services LLPs vs professional services LLPs: the difference in attitudes on mutual trust between partners and duties of good faith at law and in LLP agreements; - The use of English LLPs across the world, their evolution in different jurisdictions and how the increase in larger LLPs has affected strategic decisions; - Risk considerations: tax, regulation, liability and litigation; - Which partner remuneration trends have LLPs imported from other sectors and have they led to more or fewer disputes? - What are the differences, if any, in downward incentivisation between LLPs and more corporate structures? - What does the next 25 years hold for the future of LLPs? If you would like to discuss any aspect of LLPs or if you have any questions arising from this recording, please contact Partners Corinne Staves or Sarah Chilton, both of whom specialise in partnership law.