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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?