Limited liability partnership agreement
Written with our partners at:
What's a limited liability partnership agreement and when do you need it?
This is a general limited liability partnership (LLP) agreement for a variety of purposes.
This template is drafted to be relevant to the start of a limited liability partnership. New partners (legally called ‘members’) joining after this agreement has been signed will join the partnership by signing a deed of adherence to a limited liability partnership.
The initial members can enforce the terms of the agreement against each other, which is why the agreement is drafted between them and the LLP entity.
Stamp duty will be payable if the LLP is to own property or shares and these are being purchased at the time of set-up. This is one of the reasons why our expert partners recommend taking both legal and tax advice in relation to this transaction.