llp agreement
an llp agreement is a contract made between all the members of the llp in order to establish and document the business relationship between them and certain rules governing the operation of the llp whilst the partners in an llp are not under any legal obligation to enter into a formal llp agreement, it is almost always advisable to do so. (the llp agreement itself does not need to be registered at companies house and so remains private and confidential as amongst the members). if an llp agreement is not made, or it does not address certain critical points, then the relevant default provisions of the llp act 2000 and llps regulations 2001 will apply.