Ask an UK Law Question, Get an Answer ASAP!
yes, I need to know the types of partners ( if any) exist in a law firm and on what basis does the person hold the title?
thank you for allowing me to ask for details.
Could you please add more details in case the law firm is a limited liability company? especially in relation to partners? does a partner have to be a shareholder or he can hold the title of a partner without being a shareholder?
I assume an LLP is a limited liability company, isn't it?
Why do we see a managing director in law firms such as Allen @Overy? does the manaing director have to be a partner? what is his role and liability?
if a person uses the tite of a managing partner while he is not really a partner. does he or she become responsible for the debts of the firm? will he or she be blamed for cheating public?
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).