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Does a new Law Firm in CA have to register as an LLP?
Or can it incorporate and run itself like a regular company? I know that CA makes the LLP available to law firms but don't know if it is required.
1 Answer
- C_BarLv 71 decade agoFavourite answer
It does NOT have to be run as an LLP. Though if not, it is more likely to be a LLC than a corporation, or, traditionally though less these days, a general partnership.
The reason most law firms are LLPs are they provide the traditional partnership structure for governance and profit sharing with the limits on personal liability that a corporation has, which would be the main reason to incorporate.
