The Limited Liability Partnership (LLP) Agreement is the charter of the LLP, similar to the Memorandum of Association and Articles of Association for a private limited company. It defines the scope and extent of the LLP’s operations as well as the rights, duties, obligations of the partners. It specifies the contribution of each partner, the profit sharing and details of a closure of LLP.  Altering the agreement is straightforward. All you need to do is pass a resolution approving the revision in the LLP Agreement.

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