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.
A Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract designed to govern the employment relationship between a physician and a medical practice. This agreement outlines the terms and conditions of employment, as well as any restrictions or limitations imposed on the physician's ability to compete with the medical practice after the employment relationship ends. Keywords: Maryland, Employment Agreement, Non-Competition Agreement, Physician, Medical Practice, Limited Liability Partnership, contract, terms and conditions, restrictions, limitations, compete. There can be different types of Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, such as: 1. Full-time Employment Agreement: This type of agreement is applicable when the physician is hired on a full-time basis and is expected to dedicate a significant amount of their professional time and expertise to the medical practice. 2. Part-time Employment Agreement: When the physician is hired on a part-time basis, this type of agreement is used. It specifies the number of hours or days per week the physician will be required to work and the corresponding compensation. 3. Fixed-Term Employment Agreement: This agreement is used when the physician's employment is for a specific period, typically a year or more. It outlines the start and end dates of employment and may also include provisions regarding renewal or termination. 4. Permanent Employment Agreement: In contrast to a fixed-term agreement, a permanent employment agreement establishes an indefinite employment relationship between the physician and the medical practice. 5. Non-Competition Agreement: This type of agreement is usually included as a separate section within the overall employment agreement. It restricts the physician from competing with the medical practice within a specified geographic area and for a certain time period after the termination of the employment relationship. 6. Non-Solicitation Agreement: This agreement prevents the physician from soliciting or enticing patients, clients, employees, or referral sources away from the medical practice for a specific duration. 7. Partnership Agreement: In some cases, a physician may become a partner in the medical practice's limited liability partnership. A partnership agreement outlines the rights, responsibilities, and obligations of the physician as a partner. These various types of Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership cater to different employment scenarios and ensure that the relationship between the physician and the medical practice is legally compliant, mutually beneficial, and secure.A Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract designed to govern the employment relationship between a physician and a medical practice. This agreement outlines the terms and conditions of employment, as well as any restrictions or limitations imposed on the physician's ability to compete with the medical practice after the employment relationship ends. Keywords: Maryland, Employment Agreement, Non-Competition Agreement, Physician, Medical Practice, Limited Liability Partnership, contract, terms and conditions, restrictions, limitations, compete. There can be different types of Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, such as: 1. Full-time Employment Agreement: This type of agreement is applicable when the physician is hired on a full-time basis and is expected to dedicate a significant amount of their professional time and expertise to the medical practice. 2. Part-time Employment Agreement: When the physician is hired on a part-time basis, this type of agreement is used. It specifies the number of hours or days per week the physician will be required to work and the corresponding compensation. 3. Fixed-Term Employment Agreement: This agreement is used when the physician's employment is for a specific period, typically a year or more. It outlines the start and end dates of employment and may also include provisions regarding renewal or termination. 4. Permanent Employment Agreement: In contrast to a fixed-term agreement, a permanent employment agreement establishes an indefinite employment relationship between the physician and the medical practice. 5. Non-Competition Agreement: This type of agreement is usually included as a separate section within the overall employment agreement. It restricts the physician from competing with the medical practice within a specified geographic area and for a certain time period after the termination of the employment relationship. 6. Non-Solicitation Agreement: This agreement prevents the physician from soliciting or enticing patients, clients, employees, or referral sources away from the medical practice for a specific duration. 7. Partnership Agreement: In some cases, a physician may become a partner in the medical practice's limited liability partnership. A partnership agreement outlines the rights, responsibilities, and obligations of the physician as a partner. These various types of Maryland Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership cater to different employment scenarios and ensure that the relationship between the physician and the medical practice is legally compliant, mutually beneficial, and secure.
