As e-ticketing is pretty much mandatory, the maximum segments now is 16 (somehow when the e-ticketing system was conceived - they did not expect that a fare would require more than 16 segments or 4 conjunction tickets). So - here is what I managed in 2007 on a LH-paper ticket. It took over 90 mins to do the manual tax calculation by a very patient agent at the LH YVR ticket desk. All in Business - total fare was approx. 5400 EUR.
CDG-FRA-CAI-SIN-MEL (open) SYD-AKL-KKE (open) AKL-NAN-LAX-SFO-YVR-YYC-EWR (Open) LGA-YHZ-LHR-FRA-CDG
Total time - 12 months. 7 weeks from CDG-YVR and then 10 months in YVR - followed by 2 weeks from YVR-LHR. Last 2 coupons disposed - were only required for fare to price.