Why does your business need an LLP or partnership agreement?

If your business is run through an LLP or partnership then you need to beware of the arrangements that will apply (whether you want them to or not!) under the relevant legislation if there is no express agreement or an agreement is silent on a particular point.

It may be dangerous not to have an express agreement dealing with how:

  • profits are shared;
  • decisions are made;
  • capital is contributed; and
  • retirement.

Getting advice

You need to take legal advice at an early stage so that:

  • the position of the members/partners/LLP can be understood and where appropriate protected; and
  • you can avoid common pitfalls.

We can help you get the right legal documentation in place for your business.