Limited partnership agreement

What is a limited partnership agreement and when should you use it?

This is a general limited liability partnership (LLP) agreement for a variety of purposes.

A limited partnership enables a single partner to carry the liability.

That partner may be a limited company with little or no assets, so preserving the assets of other partners.

Often, all partners are companies.

This template is drafted to be relevant to the start of a limited liability partnership.

New partners joining after this agreement has been signed will join the partnership by signing a deed of adherence to a limited liability partnership.

What else might you need?

You can take a look at our guide to setting up a limited liability partnership (coming soon) for more background guidance on how to do establish this type of business model successfully and why you might prefer it to a general partnership model.

If you want to establish a general partnership instead of an LLP, you’ll need our general partnership agreement template