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 San Antonio Texas 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 in San Antonio, Texas. This agreement is specifically designed for limited liability partnerships in the medical field and aims to protect the interests of both parties involved. A typical San Antonio Texas Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership includes several key provisions and relevant keywords: 1. Parties: Clearly identifies the physician as an individual and the medical practice as a limited liability partnership entering into the agreement. 2. Effective Date: Specifies the date on which the agreement becomes effective. 3. Term: Outlines the duration of the employment relationship, typically a specific number of years or until termination in accordance with the agreement's provisions. 4. Position and Duties: Details the specific role, responsibilities, and expectations of the physician within the medical practice. 5. Compensation: Covers the payment structure, salary, benefits, bonuses, and any additional perks or incentives for the physician's services. 6. Non-Competition Agreement: Specifies any restrictive covenants that restrict the physician from engaging in similar or competitive activities within a defined geographic area and timeframe after the termination of employment. 7. Termination: Outlines the conditions under which either party can terminate the employment agreement, including voluntary termination, termination with or without cause, and termination due to death or disability of the physician. 8. Confidentiality and Non-Disclosure: Preserves the confidentiality of patient information and the medical practice's proprietary information, prohibiting the physician from disclosing or using such information for personal gain or competitive purposes. 9. Intellectual Property: Addresses the ownership and use of any intellectual property created or developed by the physician during the course of their employment with the medical practice. 10. Governing Law and Dispute Resolution: Specifies the governing law of the agreement and outlines the preferred method for resolving any disputes or conflicts that may arise between the parties, such as through negotiation, mediation, or arbitration. While there may not be specific variations of the San Antonio Texas Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, different medical practices may include certain specific clauses or provisions tailored to their unique needs or circumstances. It is important for both parties to carefully review and understand the terms of the agreement before signing to ensure compliance and protect their respective interests.The San Antonio Texas 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 in San Antonio, Texas. This agreement is specifically designed for limited liability partnerships in the medical field and aims to protect the interests of both parties involved. A typical San Antonio Texas Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership includes several key provisions and relevant keywords: 1. Parties: Clearly identifies the physician as an individual and the medical practice as a limited liability partnership entering into the agreement. 2. Effective Date: Specifies the date on which the agreement becomes effective. 3. Term: Outlines the duration of the employment relationship, typically a specific number of years or until termination in accordance with the agreement's provisions. 4. Position and Duties: Details the specific role, responsibilities, and expectations of the physician within the medical practice. 5. Compensation: Covers the payment structure, salary, benefits, bonuses, and any additional perks or incentives for the physician's services. 6. Non-Competition Agreement: Specifies any restrictive covenants that restrict the physician from engaging in similar or competitive activities within a defined geographic area and timeframe after the termination of employment. 7. Termination: Outlines the conditions under which either party can terminate the employment agreement, including voluntary termination, termination with or without cause, and termination due to death or disability of the physician. 8. Confidentiality and Non-Disclosure: Preserves the confidentiality of patient information and the medical practice's proprietary information, prohibiting the physician from disclosing or using such information for personal gain or competitive purposes. 9. Intellectual Property: Addresses the ownership and use of any intellectual property created or developed by the physician during the course of their employment with the medical practice. 10. Governing Law and Dispute Resolution: Specifies the governing law of the agreement and outlines the preferred method for resolving any disputes or conflicts that may arise between the parties, such as through negotiation, mediation, or arbitration. While there may not be specific variations of the San Antonio Texas Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, different medical practices may include certain specific clauses or provisions tailored to their unique needs or circumstances. It is important for both parties to carefully review and understand the terms of the agreement before signing to ensure compliance and protect their respective interests.
