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 Washington 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 between a physician and a medical practice operating as a Limited Liability Partnership (LLP) in the state of Washington. This agreement serves to protect the interests of both the physician and the medical practice in their professional relationship. Keywords: Washington Employment Agreement, Non-Competition Agreement, Physician, Medical Practice, Limited Liability Partnership, terms and conditions, employment, professional relationship. There can be different variations of Washington Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership based on the specific requirements and preferences of the parties involved. Here are a few examples of these variations: 1. Full-Time Physician Employment Agreement: This agreement outlines the terms and conditions for a physician who will be employed full-time by the medical practice. It includes details such as compensation, benefits, work schedule, duties, responsibilities, and non-competition clauses. 2. Part-Time Physician Employment Agreement: This agreement is similar to the full-time agreement but caters to physicians who will be employed on a part-time basis. It includes provisions for flexible working hours and compensation based on the number of hours worked. 3. Associate Physician Non-Competition Agreement: This agreement primarily focuses on protecting the medical practice's interests by restricting the physician's ability to compete with the practice within a certain geographic area and for a specific period of time, both during and after the employment period. 4. Partner Physician Employment Agreement: This agreement is specific to physicians who are becoming partners in the medical practice LLP. It outlines the terms and conditions of employment as a partner, including capital contributions, profit-sharing, decision-making authority, and partnership exit clauses. 5. Independent Contractor Physician Agreement: In situations where a physician provides services to the medical practice as an independent contractor rather than an employee, this agreement would define the terms and conditions between the parties. It would typically cover payment terms, scope of services, non-compete clauses, and termination procedures. These various types of Washington Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership cater to different scenarios, ensuring that the employment relationship between the physician and the medical practice is well-defined, protected, and in compliance with relevant laws and regulations.
