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.
The Michigan Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract that outlines the terms and conditions of employment for physicians in a medical practice. This agreement details the responsibilities, rights, and obligations of both the physician and the medical practice. The Michigan Employment Agreement addresses various important aspects of the physician's employment, including job title, duties, working hours, compensation, benefits, and evaluation criteria. It ensures clarity and mutual understanding between the physician and the medical practice regarding their roles and expectations. The Non-Competition Agreement, on the other hand, aims to protect the medical practice's business interests by restricting the physician from engaging in certain competitive activities after the termination of the employment relationship. This clause prevents the physician from opening or joining a competing medical practice within a specified geographic area and for a certain period. It may also include provisions related to soliciting patients or employees from the previous practice. There are different types of Michigan Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, which may vary based on the specific needs and circumstances of the parties involved. Some common variations may include: 1. Full-time Employment Agreement: This agreement is applicable when the physician is employed on a full-time basis, typically working a set number of hours per week. 2. Part-time Employment Agreement: This agreement is suitable when the physician is employed on a part-time basis, working fewer hours than a full-time employee. 3. Locum Teens Agreement: This agreement is designed for temporary or substitute physicians who fill in for regular staff members during their absence. It specifies the terms and conditions of the temporary engagement. 4. Independent Contractor Agreement: In some cases, a physician may be hired as an independent contractor rather than an employee. This type of agreement outlines the independent contractor relationship and the associated terms. It's essential for both physicians and medical practices to carefully review and understand the Michigan Employment Agreement and Non-Competition Agreement before signing. Seeking legal counsel is highly recommended ensuring compliance with Michigan employment laws and the protection of both parties' interests.The Michigan Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract that outlines the terms and conditions of employment for physicians in a medical practice. This agreement details the responsibilities, rights, and obligations of both the physician and the medical practice. The Michigan Employment Agreement addresses various important aspects of the physician's employment, including job title, duties, working hours, compensation, benefits, and evaluation criteria. It ensures clarity and mutual understanding between the physician and the medical practice regarding their roles and expectations. The Non-Competition Agreement, on the other hand, aims to protect the medical practice's business interests by restricting the physician from engaging in certain competitive activities after the termination of the employment relationship. This clause prevents the physician from opening or joining a competing medical practice within a specified geographic area and for a certain period. It may also include provisions related to soliciting patients or employees from the previous practice. There are different types of Michigan Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, which may vary based on the specific needs and circumstances of the parties involved. Some common variations may include: 1. Full-time Employment Agreement: This agreement is applicable when the physician is employed on a full-time basis, typically working a set number of hours per week. 2. Part-time Employment Agreement: This agreement is suitable when the physician is employed on a part-time basis, working fewer hours than a full-time employee. 3. Locum Teens Agreement: This agreement is designed for temporary or substitute physicians who fill in for regular staff members during their absence. It specifies the terms and conditions of the temporary engagement. 4. Independent Contractor Agreement: In some cases, a physician may be hired as an independent contractor rather than an employee. This type of agreement outlines the independent contractor relationship and the associated terms. It's essential for both physicians and medical practices to carefully review and understand the Michigan Employment Agreement and Non-Competition Agreement before signing. Seeking legal counsel is highly recommended ensuring compliance with Michigan employment laws and the protection of both parties' interests.
