Start a new business

About this business activity

To start a business in the UK, you will need to choose a business structure, register your business, get a business bank account, draw up contracts, and comply with regulations.

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.
  • Contract template sketch
    2
    5
    1

    Relevant Contract Types

    πŸ‘« Limited liability partnership agreement

    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.

    πŸ’Ά Articles of association

    A company's articles of association are its constitutional documents. They set out the rules governing the internal management of the company, and the rights and duties of its members. The articles are binding on all members of the company, and cannot be changed without the consent of all members.

    βœ’οΈ Limited partnership agreement

    A limited partnership agreement is a contract between two or more people who agree to form a limited partnership. The agreement sets forth the nature of the business, the roles of the partners, and the rights and responsibilities of each partner. The agreement also establishes the limits on the liability of each partner.

    πŸ“œ Founder Agreement

    A founder agreement is a contract between the founders of a company that outlines their roles, responsibilities, and ownership percentages in the company. The agreement also includes provisions for what happens if a founder leaves the company, such as vesting schedules for their stock.

    πŸ“‘ Board minutes

    A board minutes is a document that covers the minutes of a board meeting. It includes the date, time, and location of the meeting, as well as the names of the board members present. The minutes also include a summary of the topics discussed and any decisions made.

    Thank you!

    What happens now?
    Check your email inbox now! Most people receive an invite link from us instantly, so you are only a click away from full access πŸ’₯
    Didn’t receive an email?
    If you don’t have an invite link sat in your inbox (and youβ€˜ve refreshed that page a couple of times), then you fall into the group of of people I like to personally welcome in to the Genie Community πŸ‘‹.

    Please book in 30 minutes with me using this link
    https://calendly.com/rafie/30-min-call

    If you don’t want to book a call in now, no problem. I’ll be in touch over the next few days
    Small Avatar - Rafie Faruq 150 x 150 pixels
    Rafie Faruq
    Chief Executive Officer
    Oops! Something went wrong while submitting the form.

    Featured templates

    Advisor Agreement (Payment Via Share Options)

    Use this agreement when bringing an advisor on board to formalize variables such as job role and responsibilities, duration of contract and compensation. The agreement also sets forth certain key terms such as confidentiality and intellectual property.

    Read More
    Contract template sketch
    12
    145
    6

    Consultancy Agreement - Company appointing an individual consultant (not using a personal service company)

    This template is to be used the next time your company needs to set out terms with an individual (i.e. not to be used for agreements involving a personal service company as defined within IR35). It sets out the terms on which a contractor provides services to a client company, and is perfect for freelance software developers, marketing consultants, designers, PR/HR/recruitment consultants.

    Read More
    Contract template sketch
    9
    118
    12

    Intellectual Property Assignment (for founders to assign IP to company)

    This IP Agreement is designed for an individual to assign IP to a company e.g. a founder is starting a company and needs to vest the IP into that company

    ‍

    Read More
    Contract template sketch
    4
    25
    1

    Do you need a lawyer?

    We have 150+ legal templates for businesses like yours to use for FREE

    find out more

    Browse by:

    Business categories

    Business activities

    SEEΒ ALL
    SEEΒ LESS

    Contract types

    SEEΒ ALL
    SEEΒ LESS