A partner of a limited partnership nominated as such who has no active involvement in the management of the limited partnership business and enjoys limited liability.
Forming a limited liability partnershipA limited liability partnership (LLP) is a body corporate which is formed under the Limited Liability Partnerships Act 2000 (LLPA 2000). The majority of law applicable to LLPs is actually modified company law rather than partnership law (see Practice Note: The
How might a member of an LLP transfer or assign their partnership interest to a new member?Transfer of interest in LLP by deedA limited liability partnership (LLP) does not have directors, shareholders or partners, it has members. The members of an LLP are the persons who have subscribed their names
Limited liability partnership agreement—law firmSTOP PRESS—Impact of the Retained EU Law (Revocation and Reform) Act 2023: This document contains references to retained EU law (REUL) and associated terms introduced by the European Union (Withdrawal) Act 2018 in connection with Brexit. From 1 January
Forming a general partnership and continuing obligationsThis Practice Note discusses the conditions that need to be satisfied to form a general partnership under the Partnership Act 1890 (PA 1890). It also discusses the statutory restrictions relating to the partnership’s name, trading disclosures
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