Professional Practices / Partnerships / LLPs
Our specialist lawyers are experts at advising on establishing and managing partnership structures – whether for professional or FSA regulated partnerships or other ventures.
"A responsive team of commercial professionals" who are "extremely client-focused and knowledgeable."
Chambers UK, 2017
We have a detailed understanding of the variety of legal, commercial and regulatory factors that our clients deal with as part of the establishment and management of LLPs and other types of partnerships.
Our bespoke advice is specific to the needs of each client and tailored to meet different challenges across a range of sectors including the regulated financial services industry and professional practices including accountants, lawyers, surveyors and recruitment agents. We are also experts in the use of LPs and LLPs as joint venture vehicles.
Our advice extends beyond the narrow corporate space too. We advise partnerships in other areas including IP and commercial, employment, corporate tax, dispute resolution and collective investment schemes.
This means we can help advise on a range of issues that members of partnerships face – including admission of new members, profit sharing and capital, exits, partnership disputes and succession planning
- Establishment and structuring of new LLPs for business and professional services firms;
- Drafting and negotiating partnership and LLP Agreements;
- Converting existing businesses to LLPs (and vice versa) – whether they are unlimited partnerships or corporates; and
- Mergers, acquisitions and disposals of LLPs.
- Advising a US mergers and acquisitions advisory business on the establishment of a London-based FSA-regulated LLP;
- Advising a major property services business on tendering;
- Advising a regional law firm on its conversion to a LLP;
- Advising two recruitment firms on their conversion from LLPs to corporates;
- Advising a leading employment law partnership on its conversion to a company and subsequently incentivisation arrangements with its junior equity partners;
- Advising on the winding up of and distribution of assets of unlimited partnerships;
- Advising a Barristers' Chambers on its conversion from an unincorporated association to a company limited by guarantee.