Limited liability partnership agreement
- Length:21 pages (5550 words)
- Available in:Microsoft Word DOCXApple PagesRTF
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About this limited liability partnership agreement
This agreement is suitable for any limited liability partnership requirement. It is assumed that all partners will be active in the business.
The document is comprehensive, and includes many options. It is structured so that you can take an option, or edit to suit your particular requirements.
For example, if your business is in science, technology or creative work, you will appreciate the very full provisions for management and protection of established and new intellectual property rights, new inventions, and derived products.
If an option is not relevant, you can easily reduce these to produce a document to your exact requirements.
The law relating to this LLP agreement
The Limited Liability Partnership Act 2008 provides the structural framework for this agreement. Within that framework, you are free to make whatever arrangements you like, subject to normal contract law. This gives you great freedom, which is reflected in the many suggestions given in this agreement.
If you require an agreement to operate an arrangement where a minority manages the business on behalf of sleeping partners or investors, then see Limited liability partnership agreement: managing partner and investors.
Application and features
- Covers virtually all LLP situations, including existing agreements and new partnerships
- Suitable for any type of business
- Extensive guidance notes in plain English
- Sets out the basic partnership provisions and legal requirements for an LLP
- Partnership shares and variations
- Duties of designated partners
- Partnership property, capital and shares
- Actions for which partnership consent is required
- Management and partner control issues
- Intellectual property protection options
- Restrictions on partners
- Retirement, death or expulsion
- Termination of the partnership
- Other common legal protections
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