Limited Liability Partnership Agreement Template

Disclaimer

The information provided is intended solely as a general example for organizational agreement purposes. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney with expertise in partnership and business law. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.

This sample Limited Liability Partnership Agreement is provided for illustrative purposes only. Actual terms may vary based on specific circumstances and legal advice.

Limited Liability Partnership Agreement Sample

Parties Involved:

Partner 1: Alice Johnson
Address: 789 Park Avenue, New York, NY 10021

Partner 2: Bob Lee
Address: 321 Oak Street, Brooklyn, NY 11211

Partnership Purpose:

The partners agree to form a Limited Liability Partnership (LLP) to engage in consulting services related to business management, sharing profits and responsibilities as outlined herein.

Capital Contributions:

Partner 1 shall contribute $50,000, and Partner 2 shall contribute $50,000 toward the initial capital of the LLP. Further contributions, if any, shall be made in accordance with mutual agreement.

Profit and Loss Sharing:

Profits and losses shall be shared equally between the partners unless otherwise agreed in writing.

Management:

The partners shall jointly manage the LLP. Decisions shall be made by mutual consent, and day-to-day operations shall be overseen by Partner 1 and Partner 2 collectively.

Dissolution:

The LLP may be dissolved by mutual agreement of the partners or as otherwise provided by law. Upon dissolution, assets will be liquidated and distributed according to the partners’ respective interests.

Governing Law:

This agreement shall be governed by the laws of the State of New York. Any disputes shall be resolved in the courts of that state.

Additional Provisions:

• Any amendments to this agreement must be in writing and signed by all partners.
• Partners shall comply with applicable laws and regulations governing LLPs.
• Confidentiality obligations shall survive the termination of the partnership.

New York, ______________________