The idea is that an LLP should provide many of the benefits of limited liability, as for a company, but allow its members the flexibility of organising their internal structure as a traditional partnership. The LLP is a legal entity separate from its members, but, unlike an incorporated company, does not have shares or shareholders and is not subject to the same provisions as an incorporated company concerning the relationship between it, its shareholders and [...]

You may be in a business partnership and not know – because under English law, a partnership agreement is two or more people acting together in business to make a profit. Here are the ground rules to safeguard your cash and assets in the event of something going wrong: 1. Work out a written partnership agreement so everyone knows where they stand over control of the business, money and debts. You can download excellent template [...]