Legal Services

Partnership Agreements and LLPs

Partnerships are an alternative and less formal means by which a group of people may work together for commercial gain. Whilst a business may develop organically into a partnership without formal documentation the default provisions in the Partnership Act 1890 may not suit the business’s needs. Formal agreements should be put in place to protect the relationship between the parties for the duration of the partnership and particularly when partners join or leave it.

Limited Liability Partnerships (LLP’s) are an alternative way to benefit from limited liability status. Whilst an LLP is a corporate entity it is closer to a partnership than a company. The LLP Regulations will govern an LLP if there is no LLP agreement between the members but if there is an agreement it is not filed at Companies House so it is private. We can assist with the incorporation of an LLP and drafting an agreement between the members as well as advising on the Regulations if you do not have an agreement.

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Kendal Office: 114–116 Stricklandgate, Kendal , LA9 4QA T: 01539 721945

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