Common Contracts
1 similar LLP Agreement contracts
Is llp agreement required to be notarisedLLP Agreement • July 18th, 2023
An LLP (limited liability partnership) is a type of business structure that is popular among professionals operating as partners – most typically architects, doctors and lawyers, where the partnership’s members require limited liability. An LLP agreement is a contract made between all the members of the LLP in order to establish and document the business relationship between them and certain rules governing the operation of the LLP Whilst the partners in an LLP are not under any legal obligation to enter into a formal LLP agreement, it is almost always advisable to do so. An LLP agreement usually covers, among other things, the following key areas: The rights and obligations of each member;Means of regulating each member’s investment in the LLP;Regulations for how company property is used and owned;How profits or losses will be shared;How the LLP is going to be governed;How critical decisions will be made. Once an LLP agreement is made, it will become binding on the partners as soon as
