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Limited Liability Partnerships, Final Report 77

In Alberta, professionals conduct their trades through professional corporations, which do not entitle these professionals to the same types of limited liability protection enjoyed by shareholders in traditional business corporations. The issue this report considers is whether certain professions, which are currently required to practice in unlimited liability firms (such as accounting, legal, and health care), should be allowed to practice through limited liability firms. This report recommends that these professions, and all others, be […]

AREA OF LAW Corporate and Commercial
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FORMAT Publications
FILE fr077.pdf

April 29, 1999

Limited Liability Partnerships and Other Hybrid Business Entities, Issues Paper 4

At the time of this paper’s publication, certain types of professionals (namely, accountants, lawyers, and certain health care professionals) were required to work in a setting of “unlimited liability,” meaning that the individual professionals could be held liable for debts and other liabilities incurred by the company for which they worked. This paper addresses the issue of that unlimited liability, and suggests that there was a “liability crisis” at the time, and therefore an urgent […]

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FORMAT Publications
FILE IPNo.4.pdf

March 4, 1998