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Q: Do I need an LLP agreement?
A: As with partnership agreements these are important. If you do not have an LLP agreement then it is not possible for instance to divide the share of capital and profits…
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Glossary

Term	Description
Joint Venture	A joint venture can be formed between two or more partieswhich undertake economic activity together. These parties agree to create a new entity by both contributing equity, they then share in the revenues, expenses and control of the enterprise. This new venture can be a Limited Company, a general partnership, a Limited Partnership or an LLP. It is vital that the new entity has a joint venture agreement that regulates the parties conduct, the share of profits, losses and capital and what to do in the event of a deadlock.

Term

Description

Joint Venture

A joint venture can be formed between two or more partieswhich undertake economic activity together. These parties agree to create a new entity by both contributing equity, they then share in the revenues, expenses and control of the enterprise. This new venture can be a Limited Company, a general partnership, a Limited Partnership or an LLP. It is vital that the new entity has a joint venture agreement that regulates the parties conduct, the share of profits, losses and capital and what to do in the event of a deadlock.