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.
Santa Clara California 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 Santa Clara, California. This agreement also includes provisions regarding non-competition to protect the medical practice's interests. The agreement covers various aspects such as job duties, compensation, benefits, working hours, termination clauses, confidentiality requirements, intellectual property ownership, and dispute resolution methods. It aims to establish a clear understanding between the physician and the medical practice, ensuring a harmonious working relationship. In Santa Clara, California, there may be different types of Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, depending on the specific circumstances and requirements of the parties involved. Some possible variations may include: 1. Full-time Employment Agreement: This agreement is suitable for physicians who are hired on a full-time basis by the medical practice. It explicitly lays out the hours and days of work, duties to be performed, compensation package, and other relevant terms. 2. Part-time Employment Agreement: This agreement is applicable when a physician is hired on a part-time basis by the medical practice. It outlines the number of hours or days the physician will work each week and addresses the compensation and benefits according to the agreed-upon schedule. 3. Independent Contractor Agreement: In some cases, a physician may work as an independent contractor rather than being directly employed by the medical practice. This agreement highlights the nature of the relationship, including the scope of services, payment terms, and other pertinent details. 4. Non-Competition Agreement: Apart from the employment agreement, there may be a separate Non-Competition Agreement. This agreement restricts the physician's ability to compete with the medical practice within a specified geographic area and timeframe after the termination of their employment. It is enacted to safeguard the medical practice's goodwill, patient base, and proprietary information. These agreements are vital for both parties to avoid potential conflicts and protect their respective interests. It is recommended that both the physician and the medical practice seek legal advice to ensure that their agreements comply with the laws and regulations of Santa Clara, California.Santa Clara California 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 Santa Clara, California. This agreement also includes provisions regarding non-competition to protect the medical practice's interests. The agreement covers various aspects such as job duties, compensation, benefits, working hours, termination clauses, confidentiality requirements, intellectual property ownership, and dispute resolution methods. It aims to establish a clear understanding between the physician and the medical practice, ensuring a harmonious working relationship. In Santa Clara, California, there may be different types of Employment Agreement and Non-Competition Agreement between Physician and Medical Practice Providing Services as a Limited Liability Partnership, depending on the specific circumstances and requirements of the parties involved. Some possible variations may include: 1. Full-time Employment Agreement: This agreement is suitable for physicians who are hired on a full-time basis by the medical practice. It explicitly lays out the hours and days of work, duties to be performed, compensation package, and other relevant terms. 2. Part-time Employment Agreement: This agreement is applicable when a physician is hired on a part-time basis by the medical practice. It outlines the number of hours or days the physician will work each week and addresses the compensation and benefits according to the agreed-upon schedule. 3. Independent Contractor Agreement: In some cases, a physician may work as an independent contractor rather than being directly employed by the medical practice. This agreement highlights the nature of the relationship, including the scope of services, payment terms, and other pertinent details. 4. Non-Competition Agreement: Apart from the employment agreement, there may be a separate Non-Competition Agreement. This agreement restricts the physician's ability to compete with the medical practice within a specified geographic area and timeframe after the termination of their employment. It is enacted to safeguard the medical practice's goodwill, patient base, and proprietary information. These agreements are vital for both parties to avoid potential conflicts and protect their respective interests. It is recommended that both the physician and the medical practice seek legal advice to ensure that their agreements comply with the laws and regulations of Santa Clara, California.
