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Always revitalising and evolving |
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About the project The Singapore Academy of Law’s Law Reform Committee considered whether law partnerships should be permitted to be corporatised. On 1 December 1997, the Committee published a Report of the Corporatisation of Professional Partnerships Sub-committee which examined the corporatisation of professional partnerships, though the main thrust was the corporatisation of law firms. The Committee recommended in principle that corporatisation should be introduced for all professional partnerships as part of Singapore’s strategic move to globalise, noting in particular that corporatisation would prepare and strengthen law firms to compete on an equal basis with foreign firms when local firms ventured overseas. The Committee published a further report on 10 February 1999. Following discussions with the Law Society of Singapore which had accepted the recommendation that law firms should be permitted to corporatise, the Committee proposed legislative changes that would allow legal services to be provided through law corporations. Such corporations would have to be managed and controlled by practising lawyers, and lawyers practising under a law corporation would only be personally liable for their own negligence and in respect of matters under their control or supervision. Project status: Completed
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Areas of law ◾ Company and partnership law Click on the image above to view the report |
