company or a firm

rahul k (Querist) 07 April 2010 This query is : Resolved
Why do lawyers usually start a law firm and not a company that can provide the same assistance that a firm does? Is something to do with representing clients in the courtroom? Company usually has more advantages when compared to the firms in terms of liablity etc, but still we have top law firms like amarchand mangaldas, AZB etc but not a single company that performs similar functions that these law firms provide, why?

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Raj Kumar Makkad (Expert) 07 April 2010
It would have been better had you posted the comparison of benefits in both the situations.

Company formation and liabilities attached thereto are much more and typical too.

Ankur Garg (Expert) 10 April 2010
One reason to start a firm would be its easy formation and a firm can be started at a lower level with less formalities.

Whereas in company formalities are a bit typical to start at a lower level.

Regards

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