Partnership & LLP Agreements
Partnerships are governed by the Partnership Act 1890 and limited liability partnerships (LLPs) are primarily governed by the Limited Liability Partnerships Act 2000. Whilst the legislation provides some basic “rules” governing the relationship between partners (or members of an LLP), these rules are not always appropriate and can be varied by formal agreement.
Partnership and LLP agreements can deal with various arrangements common to employees, including annual leave, parental leave and benefits.
We also specialise in sector specific partnership arrangements, including medical partnerships and professional services partnerships.
How can we help?
Issues we can address in a formal agreement include:
- Ownership of business and assets
- Admission, expulsion and retirement of partners
- Decision making
- Capital accounts and profit and loss accounts