Llp law firm
Querist :
Anonymous
(Querist) 13 November 2011
This query is : Resolved
Dear Experts,
I need your suggestion on the aspect of sole_Prorietorship or One Man Company being good funda in Indian Legal Market.
Do BCI have some kind of barrier for such type of Firms. Should one go for LLP (Limited Liability Partnership) in order to have full control on the affairs ?
Do I need to get it registered with State Bar in order to avail Legal Support of BCI and State Bar, Global Legal market, TAX benefits, protection from harrashment or threat from the existing Law Firms?
Please suggest me the right way.
Thanks and regards
Sailesh Kumar Shah
(Expert) 13 November 2011
Do BCI have some kind of barrier for such type of Firms.
Answer: there is no restriction of firm or LLP.
Do I need to get it registered with State Bar in order to avail Legal Support of BCI and State Bar, Global Legal market, TAX benefits, protection from harrashment or threat from the existing Law Firms?
Answer: No, there is no such provisions for enrollment of Firm. Only your enrollment as advocate in state bar council is required.
Sailesh Kumar Shah
(Expert) 13 November 2011
you can llp by minimum two partner, both shall be advocate.
Shri Prabhakar Singh
Respected Sir,
I have done job as per your exceptions.
Thanks for showing confidence upon me.
Regards,
Querist :
Anonymous
(Querist) 14 November 2011
Dear Experts,
Thanks to all of you. One small query I had before we part that is Why should I go for LLP ? If my other partner being my father who is non legal person I will have no other option than to go for Proprietorship. Will it be risk on my part ?
Thanks & Regards
Sailesh Kumar Shah
(Expert) 14 November 2011
Since your father is not advocate, So you are right that formation of LLP can't be valid in terms of BCI.
are you talking which type of risk ?
Querist :
Anonymous
(Querist) 14 November 2011
Dear Expert,
Risk in the terms errors or omissions in course of Legal task execution from the Law Firm in general.
I will be liable on my personal capacity and if this happens then what is the risk of my assets on my name.
Hope I could explain.
Regards & thanks once again
Querist :
Anonymous
(Querist) 14 November 2011
Dear Experts
I await your final advice on the matter.
Thanks & regards
