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Up, up and away in your beautiful balloon: John Deane on Limited Liability Partnerships

This episode of the Law Report focuses on Limited Liability Partnerships (LLPs). This is an intermediate level course.



The LLP is an alternative to the traditional partnership that has the benefits of limited liability but that allows members flexibility over organising their internal structure. LLPs were introduced by the Limited Liability Partnerships Act 2000 and Regulations 2001, which came into force in April 2001. Any new or existing firm of two or more persons can incorporate as an LLP.

A number of law firms and others in the professional services sector have become incorporated as LLPs. This is likely to grow, as opportunities for external investment in law firms mean converting to an LLP becomes an more attractive option.

The information in this podcast represented the legal position when it was recorded on 17/10/2007

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Your Account
Aims and Outcomes

This podcast explores in detail the rules and regulations surrounding LLPs and the differences between LLPs, companies and traditional partnerships.

It will be useful for any legal professional interested in learning more about LLPs or considering whether this is an option for their firm.

The interview lasts for 28 minutes. It will take you a further 20 minutes to complete the questionnaire. You will need to get 50 per cent of the questions right to gain your CPD.

Learning outcomes

After listening to the interview, you will understand:

  • The rules and regulations surrounding LLPs
  • The difference between LLPs and traditional partnerships
  • The differences in the liability and tax regimes between LLPs, partnerships and companies
  • The process for a law firm to become an LLP
  • The advantages and disadvantages for law firms in becoming an LLP
  • The opportunities for LLPs in alternative business structures
John Deane

Qualified in 1989, John became a partner with city solicitors Keene Marsland in 1991, specialising in commercial, corporate and sports law. John has also spent a period of time practising internationally, having been admitted in Australia in 1998, where he was a principal in a practice providing advice to clients with business interests in Australasia and the Asian Pacific region.

Areas of practice:

Advice on information technology law including:

  • Software licensing, development and exploitation
  • Website hosting and development
  • Agreements dealing with interface and portals and supplier and user arrangements.
  • Compliance with data protection legislation and long distance selling regulations

Intellectual property including:

  • trademarks, copyright, designs, patents, confidential information, trade secrets and know-how, trade name, branding, image rights, endorsements, domain names
  • Helping businesses to identify, develop, protect, manage and exploit intellectual property

Company law and corporate matters including:

  • Shareholder and LLP agreements
  • Duties of directors’ duties and members of LLPs
  • Share and asset sales and purchases
  • Re-structuring and formations
  • Joint ventures, mergers and acquisitions
  • Companies Act, internal management and general compliance matters

Commercial contracts
Support and advice to individuals, partnerships, start-ups, small and medium sized businesses and larger organisations, operating in the UK and overseas.

Creative businesses
Helping creative entrepreneurs to identify and value their Intellectual Property, acquire business skills, and develop sustainable businesses. Also helping with the choice of business model, general contracts, financial and regulatory matters, data protection and privacy issues.