👫 Limited liability partnership agreement

About this category

A limited liability partnership agreement is a contract between partners that outlines their respective rights and duties, as well as the procedures for dispute resolution. The agreement also establishes the partnership's liability shield, which protects the partners from being held personally liable for the debts and obligations of the partnership.

👫 Limited liability partnership agreement

templates

LLP Agreement (Limited Liability Partnerships)

This document is a standard agreement for a limited liability partnership (LLP). It covers topics such as profit sharing, admitting new members, managing and making decisions, retirement and expulsion from the LLP, and the entitlements and obligations of outgoing members.

What to watch out for

  • The agreement should cover profit sharing, admission of new members, management and decision making, retirement and expulsion from the LLP, and entitlement and obligations of outgoing members.
  • The agreement should be clear about the roles and responsibilities of each member of the LLP.
  • The agreement should set out how decisions will be made within the LLP, and how disputes will be resolved.
  • The agreement should provide for regular review and update, in order to ensure that it remains relevant and up
  • to
  • date.
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    Associated business activities

    Start a new business

    1. A limited liability partnership agreement can help protect your personal assets in the event that your business is sued. 2. If your business is a partnership, a limited liability partnership agreement can help protect your partners from being held liable for your business debts. 3. A limited liability partnership agreement can also help you attract investors by providing them with some protection from liability.

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