Coursework.Info - Inspiration in an Instant

On the left is an image preview of every page of this document, and below are the first 150 words with formatting removed:

HKSAR Government rejected on March 2006 the proposal of introduction of LLP in Hong Kong. It is suggested that the reasons of such decision is the Government's unwillingness to increase consumers' risk of not be fully compensated and to avoid any accusation of bias by awarding liability limitation to particular professional sectors only. However, judging from standpoint of fairness and potential positive social and economical impacts that LLP is likely to bring, the writer considers LLP as the right business vehicle to achieve a balance between public's interest and up-to-date professional practices structure under the changing business environment. What is LLP Under the present partnership framework, where any partners in a firm perform their professional duties negligently, claimants can recover their loss from any partners of the firm regardless of the actual share of fault of the defendant partners. In contrast, LLP renders the privilege of limited liability to the non-culpable partners...

To see the full version of this document, and 143,642 others