The Limited Liability Partnership (LLP) is an alternative to the limited liability company (LLC). As with the limited liability company, the limited liability partnership provides a method of insulating partners from personal liability for acts of other partners.
A limited liability partnership is a general partnership that elects to be treated as an LLP by registering with the Secretary of State. Many attorneys and accountants choose the LLP structure since it shields the partners from vicarious liability, can operate more informally and flexibly than a corporation, and is accorded full partnership tax treatment. In a general partnership, individual partners are liable for the partnership's debts and obligations whereas the partners in a limited liability partnership are statutorily provided full-shield protection from partnership liabilities, debts and obligations. It allows the members of the LLP to take an active role in the business of the partnership, without exposing them to personal liability for others' acts except to the extent of their investment in the LLP. Many law and accounting firms now operate as LLPs. In some states, with certain exceptions, the LLP is only available to attorneys and accountants.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership In Connecticut, an Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership (LLP) is a legally binding document that outlines the terms and conditions of employment between the physician and the medical practice. This agreement is specifically designed for physicians who are joining or starting a practice in Connecticut operating as an LLP. The Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice as an LLP covers several aspects and should include the following information: 1. Parties involved: Clearly state the names and addresses of both the physician and the medical practice, emphasizing their roles as an LLP. 2. Employment terms: Outline the duration of the employment agreement, including the start and end dates, and specify whether it is a full-time or part-time position. Additionally, mention the working hours, on-call responsibilities, and any specific requirements related to the physician's duties. 3. Compensation and benefits: Specify the physician's salary, frequency of payments, and any performance-based bonuses or incentives. Outline the benefits they are entitled to, including health insurance, retirement plans, vacation days, sick leave, and reimbursement for continuing education. 4. Duties and responsibilities: Clearly define the physician's scope of practice, including the services they will provide, treatment protocols, and any administrative tasks or supervisory roles they may have. Emphasize adherence to medical guidelines, ethical standards, and state laws. 5. Non-Competition agreement: Include a section that addresses the physician's non-competition obligations, which restricts them from practicing medicine within a certain geographic area for a specified period after leaving the medical practice. Specify the duration, geographical limits, and the potential consequences of breaching this agreement. 6. Termination provisions: Describe the circumstances under which either party can terminate the agreement, including notice periods and any financial implications related to terminating employment prematurely. Outline the steps to be taken upon termination, such as patient notifications and handover processes. 7. Confidentiality and intellectual property: Address the protection of patient records, proprietary information, trade secrets, and any intellectual property created by the physician during their employment with the medical practice. 8. Dispute resolution: Specify the procedures for resolving disputes, including mediation, arbitration, or litigation if all other attempts to reach a resolution fail. Types of Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership: 1. Full-time Employment Agreement and Non-Competition Agreement: A comprehensive agreement that covers physicians employed full-time by a medical practice operating as an LLP. 2. Part-time Employment Agreement and Non-Competition Agreement: Designed for physicians who work part-time or have a limited number of hours with the medical practice as an LLP. 3. Associate Physician Employment Agreement and Non-Competition Agreement: Specifically tailored for physicians joining a medical practice as an LLP as associates, typically with a pathway to partnership in the future. 4. Partnership Track Employment Agreement and Non-Competition Agreement: For physicians who join the medical practice as an LLP with the intention of becoming a partner after a specified period and meeting certain criteria. These are some common types of Connecticut Employment Agreement and Non-Competition Agreement between Physicians and Medical Practices Providing Services as an LLP. However, it is important to consult legal professionals to ensure that the agreement aligns with state laws, regulations, and individual circumstances.Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership In Connecticut, an Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership (LLP) is a legally binding document that outlines the terms and conditions of employment between the physician and the medical practice. This agreement is specifically designed for physicians who are joining or starting a practice in Connecticut operating as an LLP. The Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice as an LLP covers several aspects and should include the following information: 1. Parties involved: Clearly state the names and addresses of both the physician and the medical practice, emphasizing their roles as an LLP. 2. Employment terms: Outline the duration of the employment agreement, including the start and end dates, and specify whether it is a full-time or part-time position. Additionally, mention the working hours, on-call responsibilities, and any specific requirements related to the physician's duties. 3. Compensation and benefits: Specify the physician's salary, frequency of payments, and any performance-based bonuses or incentives. Outline the benefits they are entitled to, including health insurance, retirement plans, vacation days, sick leave, and reimbursement for continuing education. 4. Duties and responsibilities: Clearly define the physician's scope of practice, including the services they will provide, treatment protocols, and any administrative tasks or supervisory roles they may have. Emphasize adherence to medical guidelines, ethical standards, and state laws. 5. Non-Competition agreement: Include a section that addresses the physician's non-competition obligations, which restricts them from practicing medicine within a certain geographic area for a specified period after leaving the medical practice. Specify the duration, geographical limits, and the potential consequences of breaching this agreement. 6. Termination provisions: Describe the circumstances under which either party can terminate the agreement, including notice periods and any financial implications related to terminating employment prematurely. Outline the steps to be taken upon termination, such as patient notifications and handover processes. 7. Confidentiality and intellectual property: Address the protection of patient records, proprietary information, trade secrets, and any intellectual property created by the physician during their employment with the medical practice. 8. Dispute resolution: Specify the procedures for resolving disputes, including mediation, arbitration, or litigation if all other attempts to reach a resolution fail. Types of Connecticut Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership: 1. Full-time Employment Agreement and Non-Competition Agreement: A comprehensive agreement that covers physicians employed full-time by a medical practice operating as an LLP. 2. Part-time Employment Agreement and Non-Competition Agreement: Designed for physicians who work part-time or have a limited number of hours with the medical practice as an LLP. 3. Associate Physician Employment Agreement and Non-Competition Agreement: Specifically tailored for physicians joining a medical practice as an LLP as associates, typically with a pathway to partnership in the future. 4. Partnership Track Employment Agreement and Non-Competition Agreement: For physicians who join the medical practice as an LLP with the intention of becoming a partner after a specified period and meeting certain criteria. These are some common types of Connecticut Employment Agreement and Non-Competition Agreement between Physicians and Medical Practices Providing Services as an LLP. However, it is important to consult legal professionals to ensure that the agreement aligns with state laws, regulations, and individual circumstances.
