If two people coordinate together with a single motive it forms a partnership. From a business point of view, Partnership agreement details the relationship between business partners and their individual contributions to the partnership. But while entering a corporate field, you need to ensure you have properly documented the rights and liabilities of each partner as it may affect you badly in the future.Most of our clients are now planning to form a limited liability partnership or LLP. An LLP is a specific partnership formed under the Limited Liability Partnership Act 2000. It could be called as a halfway house in the middle of a partnership and a normal company. In LLP, the partners are called as members and they will be having only limited liability. Unlike the partnership, LLP member can recruit new workforce/staffs to work in their contracts. Just the same as a partnership, LLP members need to sign in agreements to state the relationship and the right of each partner. KTS legal can help you in preparing highly strategic LLP agreements.
An LLP needs formal incorporation and requires you to register the LLP at Companies House.
We can help you in all of the below aspects:
Register an LLP;
Draft partnership agreements;
Converting to an LLP if you are in partnership under 1890 Act;
Exiting a Partnership;
Suspending a Partner;
Dissolving a Partnership;
Entering in to a Partnership;
Removing a Partner;
Any other legal advice under LLP Act 2000 or Limited Partnership Act 1907.
If you need any further advice or legal assistance, please contact us in confidence on 020 8367 0505 or email us on email@example.com and one of our solicitors will be able to help you.