The LLP Agreement is a legal document that sets out the rights and obligations of the partners, the profit-sharing ratio, the management structure, and other important details related to the operation of the LLP. It is a crucial document that helps to govern the relationship between the partners and LLP. It ensures that the LLP is operated in a fair and transparent manner.
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The LLP Agreement must execute on a non-judicial stamp paper and registered with the Registrar of Companies in the relevant jurisdiction. It is important for all partners to carefully review and understand the terms of the LLP Agreement before signing it. As it will govern their relationship with each other and with the LLP.
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