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.
Nassau New York Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership (LLP) serve as legally binding contracts establishing the terms and conditions for the employment of physicians in medical practices located in Nassau, New York. These agreements outline the responsibilities, obligations, and rights of both the physician and the medical practice, ensuring clarity and protection for all parties involved. There are different types of Employment Agreements and Non-Competition Agreements in Nassau, New York, which may vary based on specific conditions and preferences. Some common forms of these agreements include: 1. Full-time Employment Agreement: This agreement specifies that the physician will work on a full-time basis, typically defined by the number of hours or shifts per week, for the medical practice. It outlines the compensation package, benefits, and performance expectations. 2. Part-time Employment Agreement: This agreement outlines the terms for physicians who work on a part-time basis, often due to personal commitments, other professional engagements, or shared responsibilities. It establishes the scope of work, compensation, and benefits corresponding to the reduced hours worked. 3. Independent Contractor Agreement: This type of agreement allows physicians to provide services to the medical practice as independent contractors. It sets forth the details of the contractor's responsibilities, payment terms, and stipulations regarding taxes and insurance. 4. Non-Competition Agreement: This agreement is typically incorporated into the employment agreement or can be a separate document. It restricts the physician from competing with the medical practice within a defined geographical area during or after the termination of employment. Non-competition clauses protect the medical practice's confidential information, patient base, and goodwill accumulated during the employment period. 5. Non-Solicitation Agreement: Similar to the Non-Competition Agreement, this document prohibits the physician from soliciting the medical practice's patients, staff, or referring physicians for personal gain or to divert business away from the practice. Nassau New York's Employment Agreements and Non-Competition Agreements between physicians and medical practices as Limited Liability Partnerships comply with state-specific laws, regulations, and professional guidelines. These agreements aim to establish a fair, professional, and mutually beneficial relationship between physicians and medical practices while safeguarding the practice's interests and facilitating the provision of quality healthcare services to the community.Nassau New York Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership (LLP) serve as legally binding contracts establishing the terms and conditions for the employment of physicians in medical practices located in Nassau, New York. These agreements outline the responsibilities, obligations, and rights of both the physician and the medical practice, ensuring clarity and protection for all parties involved. There are different types of Employment Agreements and Non-Competition Agreements in Nassau, New York, which may vary based on specific conditions and preferences. Some common forms of these agreements include: 1. Full-time Employment Agreement: This agreement specifies that the physician will work on a full-time basis, typically defined by the number of hours or shifts per week, for the medical practice. It outlines the compensation package, benefits, and performance expectations. 2. Part-time Employment Agreement: This agreement outlines the terms for physicians who work on a part-time basis, often due to personal commitments, other professional engagements, or shared responsibilities. It establishes the scope of work, compensation, and benefits corresponding to the reduced hours worked. 3. Independent Contractor Agreement: This type of agreement allows physicians to provide services to the medical practice as independent contractors. It sets forth the details of the contractor's responsibilities, payment terms, and stipulations regarding taxes and insurance. 4. Non-Competition Agreement: This agreement is typically incorporated into the employment agreement or can be a separate document. It restricts the physician from competing with the medical practice within a defined geographical area during or after the termination of employment. Non-competition clauses protect the medical practice's confidential information, patient base, and goodwill accumulated during the employment period. 5. Non-Solicitation Agreement: Similar to the Non-Competition Agreement, this document prohibits the physician from soliciting the medical practice's patients, staff, or referring physicians for personal gain or to divert business away from the practice. Nassau New York's Employment Agreements and Non-Competition Agreements between physicians and medical practices as Limited Liability Partnerships comply with state-specific laws, regulations, and professional guidelines. These agreements aim to establish a fair, professional, and mutually beneficial relationship between physicians and medical practices while safeguarding the practice's interests and facilitating the provision of quality healthcare services to the community.
