Review and advice on your existing LLP agreement (limited liability partnership agreement), covering member protections, profit-sharing, and exit provisions. Useful before admitting new members or if the LLP's circumstances have changed since the agreement was first put in place.
Q: What if our LLP has no written agreement?
Without a written LLP agreement, the default provisions in the LLP Regulations apply. These include equal profit-sharing and unanimous decision-making, which may not reflect what the members actually intend.
Review and advice on your existing LLP agreement (limited liability partnership agreement), covering member protections, profit-sharing, and exit provisions. Useful before admitting new members or if the LLP's circumstances have changed since the agreement was first put in place.
Q: What if our LLP has no written agreement?
Without a written LLP agreement, the default provisions in the LLP Regulations apply. These include equal profit-sharing and unanimous decision-making, which may not reflect what the members actually intend.