Else’s team of business solicitors in Burton on Trent are specialists at drafting Limited Liability Partnership agreements.
A Limited Liability Partnership (LLP) shares many features with a traditional partnership, where two or more parties agree to work together for mutual benefit.
A key difference between these forms of partnership is that an LLP offers reduced personal responsibility for any business debts or liabilities. The LLP is primarily responsible for any liabilities, not the individual partners, because it is a separate legal entity to its partners.
A clear, unambiguous partnership agreement is fundamental to the smooth running of any partnership.
Partnership contracts provide business continuity in the event of a dispute. They also outline responsibilities, decision-making criteria, capital contributions, distribution of monies, and salaries.
How we can help
Our expert business solicitors can advise on all aspects of partnerships and LLPs including their respective benefits and drawbacks. Your business faces some serious potential risks if you have a homemade, unwritten, or an unrecorded partnership arrangement.
We can draft a limited liability partnership agreement that protects the interests of all partners and help to achieve your commercial aims.
We also have considerable experience at mediating partnership disputes and taking legal action on behalf of a party involved in a serious conflict.
If you need advice on alternative partnership structures or the transfer of a partnership into an LLP, Else have the relevant experience to meet your need.
For more detailed legal advice in relation to partnership agreements and Limited Liability Partnerships, please contact our expert corporate and commercial solicitors in Burton on Trent, on 01283 526200. Alternatively, you can send us a message and we will get in touch at a time that suits you.