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By: Series: Building ; 269(8338) 25 June 2004, 57(1)Publication details: 2004Subject(s): Summary: Discusses the position of construction industry clients who have been informed by their professional advisors that the advisors have been turned into a Limited Liability Partnership (LLP). Argues that many clients have never heard of LLP's or know what they do. They are in fact an alternative corporate vehicle established by the Limited Liability Partnership Act 2000. They allow professional partners to incorporate so that partners can obtain the benefit of limited liability without having to give up management control and responsibility. Recommends that clients receiving a notice from their advisers should not sign it to replace existing agreements but concedes that for appointments working on new topics there is probably little choice but to sign.

Discusses the position of construction industry clients who have been informed by their professional advisors that the advisors have been turned into a Limited Liability Partnership (LLP). Argues that many clients have never heard of LLP's or know what they do. They are in fact an alternative corporate vehicle established by the Limited Liability Partnership Act 2000. They allow professional partners to incorporate so that partners can obtain the benefit of limited liability without having to give up management control and responsibility. Recommends that clients receiving a notice from their advisers should not sign it to replace existing agreements but concedes that for appointments working on new topics there is probably little choice but to sign.