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Three Parties Limited Liability Partnership Agreement (LLP) will be established under local law. It provides a basic Partnership framework only. This agreement is drafted to impose strict / tight obligations on the Members.
P1, P2 and P3 wish to establish a limited liability partnership in [TERRITORY] under the name of [NAME] (the LLP) for the purpose of [BUSINESS].
P1, P2 and P3 wish to regulate their relationship as members in the LLP and the management of the LLP in accordance with the terms of this Agreement.
The Business is [BUSINESS].
The Business shall be conducted in the best interests of the LLP on sound commercial profit-making principles in accordance with the Business Plan. The Members shall use all reasonable endeavours to procure its prompt and effective implementation.
This document should be carefully read by the Partners in the proposed partnership.
Partners who wish to establish the partnership should complete their personal and business information as much as they could.
Please provide the territory/jurisdiction where the partnership will be formed, the name of the partnership, and the purpose of the business of the partnership in creating this agreement. The initial capital contribution from each partner and property and assets initially owned by the partnership should also be indicated.