The Operating Agreement LLP is essential for any Limited Liability Partnership registered in England and Wales. It serves as the foundational document governing the relationship between members and the operation of the business. This agreement is crucial when establishing a new LLP or restructuring an existing one, providing clarity on capital contributions, profit sharing, management responsibilities, and dispute resolution procedures. While not legally required under UK law, an Operating Agreement LLP is highly recommended to prevent future disputes and ensure smooth business operations.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Operating Agreement Llp
"I need an Operating Agreement LLP for a new technology consulting partnership being formed in Manchester with 4 founding members, where two members will be designated members with enhanced voting rights, and we need strong IP protection clauses."
1. Parties: Identification of all LLP members and their details
2. Background: Context and purpose of the LLP formation
3. Definitions: Key terms used throughout the agreement
4. Business of the LLP: Description of the LLP's primary activities and objectives
5. Capital Contributions: Details of members' initial and ongoing capital contributions
6. Profit and Loss Sharing: Distribution of profits and allocation of losses
7. Management Structure: Governance and decision-making processes
8. Members' Duties and Obligations: Rights and responsibilities of members
9. Meetings and Voting: Procedures for member meetings and voting rights
1. Intellectual Property Rights: Provisions governing IP ownership and usage rights when IP is significant to the business
2. Non-Competition: Restrictions on competitive activities to protect business interests from member competition
3. International Operations: Rules for international business activities when operating across multiple jurisdictions
1. Schedule 1: Initial Capital Contributions: Detailed breakdown of members' initial investments
2. Schedule 2: Members' Details: Complete member information and contact details
3. Schedule 3: Business Plan: Initial business plan and strategic objectives
4. Appendix A: Accounting Policies: Agreed accounting principles and procedures
Authors
Relevant legal definitions
Act
Accounting Period
Annual Budget
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Member
Designated Member
Drawing Account
Financial Year
Initial Capital Contribution
Intellectual Property Rights
LLP
LLP Property
Management Board
Managing Member
Member
Member's Interest
Membership Rights
Ordinary Resolution
Profit Share
Profits
Quarter
Registered Office
Regulatory Requirements
Reserved Matters
Special Resolution
Termination Date
Transfer
Voting Rights
Working Capital
Accounting Period
Annual Budget
Business
Business Day
Business Plan
Capital Account
Capital Contribution
Commencement Date
Confidential Information
Default Event
Defaulting Member
Designated Member
Drawing Account
Financial Year
Initial Capital Contribution
Intellectual Property Rights
LLP
LLP Property
Management Board
Managing Member
Member
Member's Interest
Membership Rights
Ordinary Resolution
Profit Share
Profits
Quarter
Registered Office
Regulatory Requirements
Reserved Matters
Special Resolution
Termination Date
Transfer
Voting Rights
Working Capital
Clauses
Admission of New Members
Amendments to Agreement
Anti-Money Laundering
Assignment and Transfer
Banking and Financial Matters
Business Management
Capital Contributions
Confidentiality
Conflicts of Interest
Death of a Member
Decision Making
Dispute Resolution
Distribution of Profits
Entire Agreement
Expulsion of Members
Force Majeure
Governing Law and Jurisdiction
Indemnification
Insurance
Intellectual Property
Management Structure
Meetings
Member Obligations
Non-Competition
Non-Solicitation
Notices
Profit and Loss Allocation
Record Keeping
Retirement of Members
Severability
Tax Matters
Termination
Variation
Voting Rights
Winding Up
Amendments to Agreement
Anti-Money Laundering
Assignment and Transfer
Banking and Financial Matters
Business Management
Capital Contributions
Confidentiality
Conflicts of Interest
Death of a Member
Decision Making
Dispute Resolution
Distribution of Profits
Entire Agreement
Expulsion of Members
Force Majeure
Governing Law and Jurisdiction
Indemnification
Insurance
Intellectual Property
Management Structure
Meetings
Member Obligations
Non-Competition
Non-Solicitation
Notices
Profit and Loss Allocation
Record Keeping
Retirement of Members
Severability
Tax Matters
Termination
Variation
Voting Rights
Winding Up
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Standard LLC Agreement
An England & Wales legal document outlining the operational framework for a limited liability company.
find out more
Small Business Operating Agreement
An England & Wales legal document outlining governance and member roles for multi-owner small businesses.
find out more
Simple Operating Agreement For Two Member LLC
An England & Wales agreement defining rights and obligations for two-member LLCs, ensuring operational flexibility.
find out more
Simple Operating Agreement
An England & Wales legal document outlining business ownership, management, and profit distribution for SMEs.
find out more
Restaurant Operating Agreement
An England & Wales agreement governing restaurant operations, covering standards, compliance, financials, and risk management.
find out more
Real Estate Partnership Operating Agreement
An England & Wales legal document structuring joint real estate investments, defining contributions, profits, and management rights.
find out more
Professional LLC Operating Agreement
An England & Wales LLP agreement detailing governance and compliance for professional services firms.
find out more
Professional Limited Liability Company Operating Agreement
An England & Wales legal document outlining LLP governance for professional service providers.
find out more
Photography LLC Operating Agreement
An England & Wales legal document outlining operational guidelines for a photography business LLC.
find out more
Operating Service Agreement
An England & Wales contract outlining service standards and obligations for long-term operational relationships.
find out more
Operating Agreement Llp
An England & Wales agreement outlining LLP member roles, capital contributions, and dispute resolution procedures.
find out more
Operating Agreement For Trucking Company
An England & Wales legal document outlining roles and compliance for a multi-party trucking business.
find out more
Operating Agreement For Non Profit Corporation
An England & Wales legal document outlining governance and compliance for non-profit organizations.
find out more
Operating Agreement For Incorporation
An England & Wales legal document outlining company management, ownership, and governance under the Companies Act 2006.
find out more
Operating Agreement For Corporation
An England & Wales document outlining corporate governance and shareholder-director relationships for a corporation.
find out more
Operating Agreement Between Partners
An England & Wales legal document outlining partnership roles, responsibilities, and protocols to prevent business disputes.
find out more
Nonprofit LLC Operating Agreement
An England & Wales legal document outlining governance for a nonprofit structured as a Company Limited by Guarantee.
find out more
Non Profit Operating Agreement
An England & Wales legal document outlining governance for non-profit operations under Companies and Charities Acts.
find out more
Multi Member Managed LLC Operating Agreement
An England & Wales agreement outlining governance and member rights for a multi-member limited liability business structure.
find out more
Multi Member LLC Agreement
An England & Wales agreement outlining terms for multi-member business ventures with limited liability protection.
find out more
Members Agreement For LLC
An England & Wales legal document outlining LLC member roles, contributions, and dispute resolution procedures.
find out more
Management Agreement Between Two Companies
An England & Wales agreement outlining management services between two companies, detailing service terms and financial arrangements.
find out more
LLC Profit Interest Agreement
An England & Wales agreement granting profit interests in an LLC to incentivize key individuals or entities.
find out more
LLC Operating Agreement For Shared Vacation Home
An agreement for shared ownership and management of a vacation home in England & Wales.
find out more
LLC Membership Admission Agreement
An England & Wales agreement for admitting new LLC members, detailing rights, obligations, and compliance requirements.
find out more
LLC Member Control Agreement
An England & Wales agreement outlining internal operations and member relationships for limited liability entities.
find out more
LLC Equity Agreement
An England & Wales agreement detailing ownership and governance structures within a limited liability company.
find out more
LLC Bylaws
An England & Wales legal document outlining governance and operational guidelines for a private limited company.
find out more
Limited Liability Agreement
An England & Wales legal document outlining liability protection and operational rules for business owners.
find out more
Limited Company Agreement
An England & Wales legal document outlining company shareholding, management, and compliance with the Companies Act 2006.
find out more
Joint Operation Contract
An England & Wales contract outlining collaboration terms for joint business operations while maintaining separate legal identities.
find out more
Joint Operation Agreement
An England & Wales legal document outlining collaborative operational terms between separate legal entities.
find out more
Joint Operating Agreement
An England & Wales agreement managing multi-party ventures, defining roles, voting, and risk-sharing in capital-intensive sectors.
find out more
Investment Fund Operating Agreement
An England & Wales legal document governing investment fund operations, ensuring compliance and protecting managers' and investors' interests.
find out more
Independent Contractor Operating Agreement
An England & Wales legal document defining terms for engaging external service providers, ensuring compliance with IR35.
find out more
Holding Company Operating Agreement
An England & Wales legal document outlining governance and management of a corporate group's holding company and subsidiaries.
find out more
Hedge Fund LLC Operating Agreement
An England & Wales legal document outlining the operational framework and compliance for a hedge fund's management and investors.
find out more
General Partnership Operating Agreement
An England & Wales legal document outlining partner roles and liabilities in a general business partnership.
find out more
Guaranteed Payments LLC Operating Agreement
An England & Wales agreement establishing fixed payments to LLC members, ensuring consistent compensation and tax efficiency.
find out more
Farm LLC Operating Agreement
An England & Wales document denying customer claims, detailing reasons, policy references, and appeal options.
find out more
Family LLC Operating Agreement
An England & Wales agreement formalizing referral fee arrangements and ensuring compliance with legal and regulatory standards.
find out more
Contractor Operating Agreement
An England & Wales agreement outlining third-party referral processes and commission structures for business expansion.
find out more
C Corp Operating Agreement
An England & Wales document endorsing a teacher's qualifications and character for educational opportunities.
find out more
Aircraft LLC Operating Agreement
A formal document in England & Wales providing context for a recommendation letter, ensuring compliance with legal standards.
find out more
Asset Protection LLC Operating Agreement
An England & Wales document formalizing business referrals, detailing terms, compensation, and confidentiality provisions.
find out more
Articles Of Organisation Operating Agreement
An England & Wales legal document confirming acceptance of modified contract terms after a counter offer.
find out more
Annual Operating Agreement
A reference letter in England & Wales verifying a chef's skills, employment history, and character for career purposes.
find out more
Amended Operating Agreement LLC
An England & Wales legal document attesting to an individual's character from a pastor for various official purposes.
find out more
Aircraft Operating Lease Agreement
An England & Wales document assessing a nurse's professional conduct and competencies for employment or regulatory purposes.
find out more
Aircraft Operating Agreement
A legal document in England & Wales providing character testimony for court or formal applications.
find out more
50 50 Operating Agreement
An England & Wales document verifying banking relationships for financial standing and third-party reference purposes.
find out more
50 50 LLC Operating Agreement
An England & Wales document verifying banking relationships and financial conduct for business or tenancy purposes.
find out more
Bylaws And Operating Agreement
A governing document under English and Welsh law that sets out company rules, procedures, and operational guidelines.
find out more
Limited Liability Company Contract
A governing document for limited liability companies under English and Welsh law that establishes company rules, shareholder rights, and management structure.
find out more
LLC Operating Agreement Bank Account
An operating agreement governing LLC bank account management and controls under English and Welsh law.
find out more
LLC Holding Company Operating Agreement
A governing document for holding company operations under English and Welsh law, defining structure, management, and member rights.
find out more
Single Member Managed LLC Operating Agreement
A governing agreement for a single-member managed LLC, adapted for compliance with English and Welsh law.
find out more
Custom Operating Agreement
A legally binding document under English and Welsh law that establishes the operational framework and governance structure of a business entity.
find out more
Construction LLC Operating Agreement
A legal framework document governing the operation of a construction-focused limited liability company under England and Wales law.
find out more
Llp Operating Agreement
A governing document for Limited Liability Partnerships under English and Welsh law that sets out member rights, responsibilities, and operational procedures.
find out more
LLC Buyout Agreement
An agreement under English and Welsh law governing the sale of LLC membership interests between selling and buying parties.
find out more
Single Owner LLC Operating Agreement
A governing document for a single-member private limited company under English and Welsh law, establishing management and operational procedures.
find out more
Limited Liability Company Operating Agreement
A governing document that establishes management and operational procedures for limited liability companies under English and Welsh law.
find out more
Construction Operating Agreement
A legally binding agreement under English and Welsh law that establishes operational procedures and responsibilities for construction projects.
find out more
Profit Sharing Agreement Between Partners
An English law agreement defining profit-sharing arrangements between business partners, including calculation methods and distribution terms.
find out more
Limited Partnership Operating Agreement
An English law agreement governing the operation and management of a limited partnership, defining partner rights and obligations.
find out more
LLC Ownership Percentage Agreement
A legal agreement under England and Wales law that defines and governs ownership stakes and rights in a Limited Liability Company.
find out more
Member Managed Operating Agreement
A legal agreement under English and Welsh law defining how members manage and operate a limited liability company.
find out more
Operating Agreement For Bank Account
A legally binding agreement under English and Welsh law that governs the operation of a bank account, establishing terms and conditions between the bank and account holder(s).
find out more
Operating Agreement For Single Member LLC
A governing document for a single-member business entity under England and Wales law (structured as a Private Limited Company rather than LLC)
find out more
Sole Proprietorship Operating Agreement
A governing document for sole trader businesses under English and Welsh law, establishing operational procedures and business management framework.
find out more
Multi Member LLC Operating Agreement
A governing document for multi-member business entities under English and Welsh law, establishing operational and management frameworks for LLPs or Ltd companies.
find out more
Member Managed LLC Operating Agreement
A governing agreement for business operations under English and Welsh law, structured for either an LLP or Ltd company format.
find out more
Shareholder Operating Agreement
A legal agreement under English and Welsh law that governs the relationship between shareholders and establishes company operating procedures.
find out more
Real Estate LLC Operating Agreement
A governing document for real estate investment entities under England and Wales law, establishing operational and management frameworks.
find out more
Manager Managed LLC Operating Agreement
A governing document for manager-managed LLCs operating under England and Wales law, establishing operational and management frameworks.
find out more
LLC Shareholder Agreement
A legally binding agreement governing shareholder relationships and rights in an LLC under English and Welsh law.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our Trust Centre for more details and real-time security updates.
Read our Privacy Policy.
