ZeusIP has restructured from a general partnership to a limited liability partnership (LLP). This will result in changes to the firm’s invoices, bank account details and powers of attorney. The firm said it changed its structure to keep pace with growth.
“It distributes the ownership amongst the members, which is key to retaining talent,” Gunjan Paharia, the founder and managing partner of ZeusIP, told India Business Law Journal. “Not sharing the fruits of success with its contributing members would not only be morally and ethically wrong, it would also bode a disaster for the future of the firm.”
Paharia said she wanted the firm to provide a platform who wanted an alternative to family run firms in the country. “Hence the name was deliberately chosen to be person agnostic,” she added. The firm’s leadership marks out the progression plans of each individual from hiring to partnerships. “We therefore have had an up or out policy in place, which ensures that there is going to be no mediocrity in the firm.”
ZeusIP is a 50-member firm with 20 lawyers. LLPs provide advantages such as protection of personal assets and negligence by other partners of the firm.