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 New York Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract that outlines the terms and conditions of employment for a physician within a medical practice in the state of New York. This agreement also includes provisions regarding non-competition and non-solicitation to protect the medical practice's interests. The New York Employment Agreement and Non-Competition Agreement can contain various clauses depending on the specific requirements and nature of the partnership. Some possible types or variations of this agreement may include: 1. Full-time Employment Agreement: This agreement outlines the terms and conditions for a physician who will be employed full-time by the medical practice. It covers details such as job responsibilities, compensation, benefits, working hours, and termination provisions. 2. Part-time Employment Agreement: This type of agreement is suitable for physicians who will be employed on a part-time basis. It includes specific terms related to the number of hours worked, pro rata compensation, benefits eligibility, and other relevant details. 3. Contracted Services Agreement: Instead of being an employee, some physicians may provide services to the medical practice as independent contractors. This agreement defines the scope of services, compensation structure, payment terms, and other contractual obligations for the contracted physician. 4. Non-Competition Agreement: This agreement is an integral part of the overall employment agreement and aims to protect the medical practice's interests by preventing the physician from competing with the practice after termination. It specifies the geographic area, duration, and activities restricted during the non-compete period. 5. Non-Solicitation Agreement: Similar to the non-competition agreement, a non-solicitation agreement prohibits the physician from soliciting patients, employees, or business opportunities from the medical practice after the termination of employment. It outlines the scope and duration of the non-solicitation clause. Regardless of the specific type or variation, a New York Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership is designed to protect the rights and interests of both parties involved. It serves as a clear roadmap for the physician's employment, sets expectations, and safeguards the medical practice against unfair competition and solicitation.A New York Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership is a legally binding contract that outlines the terms and conditions of employment for a physician within a medical practice in the state of New York. This agreement also includes provisions regarding non-competition and non-solicitation to protect the medical practice's interests. The New York Employment Agreement and Non-Competition Agreement can contain various clauses depending on the specific requirements and nature of the partnership. Some possible types or variations of this agreement may include: 1. Full-time Employment Agreement: This agreement outlines the terms and conditions for a physician who will be employed full-time by the medical practice. It covers details such as job responsibilities, compensation, benefits, working hours, and termination provisions. 2. Part-time Employment Agreement: This type of agreement is suitable for physicians who will be employed on a part-time basis. It includes specific terms related to the number of hours worked, pro rata compensation, benefits eligibility, and other relevant details. 3. Contracted Services Agreement: Instead of being an employee, some physicians may provide services to the medical practice as independent contractors. This agreement defines the scope of services, compensation structure, payment terms, and other contractual obligations for the contracted physician. 4. Non-Competition Agreement: This agreement is an integral part of the overall employment agreement and aims to protect the medical practice's interests by preventing the physician from competing with the practice after termination. It specifies the geographic area, duration, and activities restricted during the non-compete period. 5. Non-Solicitation Agreement: Similar to the non-competition agreement, a non-solicitation agreement prohibits the physician from soliciting patients, employees, or business opportunities from the medical practice after the termination of employment. It outlines the scope and duration of the non-solicitation clause. Regardless of the specific type or variation, a New York Employment Agreement and Non-Competition Agreement between a Physician and a Medical Practice Providing Services as a Limited Liability Partnership is designed to protect the rights and interests of both parties involved. It serves as a clear roadmap for the physician's employment, sets expectations, and safeguards the medical practice against unfair competition and solicitation.
