Abstract
The premise of the article is an analysis of a partnership conducted by legal advisers. The study is an attempt to systematize the most essential practical issues related to the profession of a legal advisor in the form of a partnership. The rationale for selection of the subject is the hybrid nature of the discussed legal structure. A limited liability partnership is one of the forms of working in the profession of a legal advisor. It is a partnership which has been established by associates (partners) with the intention of practicing an independent profession, and who are running an enterprise under their own name. As far as the partners are concerned, these can only be natural persons who are authorized to practice an independent profession. The catalog of independent professions which may be practiced in the form of a limited liability partnership has been included in Article 88 of the Commercial Companies Code. A legal advisor is one of the legal professions which have been mentioned in this regulation. When analyzing the literature on the subject, one can conclude that a limited liability partnership, in comparison with other commercial companies, is an attractive form of practicing the profession of a legal advisor, above all due to the principles of bearing responsibility for the company’s obligations by the partner. Concurrently, a limited liability partnership, combining a limitation of personal liability, clear representation principles when exercising the possibility of appointing a management board, as well as the possibility of accumulating financial, as well as intellectual, capital, responds to the needs of the free market of services, the growing competition, and thus enables an increase in the quality of the services rendered.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.