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We go limited
May 28, 2008
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Willans becomes a limited liability partnership on 1. June and will be known as Willans LLP.
Limited liability partnerships are a relatively new form of legal entity, created by the Limited Liability Partnerships Act 2000.
Although an LLP has the word ‘partnership’ in its title, it is a separate legal entity in the same way as a limited company but does not have any shares, shareholders, a memorandum or articles of association.
Managing partner Margaret Austen said: "LLP is perfect for us. It meets the needs of expanding professional practices and is far more relevant to providing legal advice in a modern commercial environment.
“It also brings us more into line with many of our clients’ own business structures.
“Our partners officially become ‘members’ of the LLP, although they will continue to be called partners since that is the term most people are familiar with."