fbpx

Partnerships and LLPs

Partnerships and LLPs are an alternative to a limited company. Partnerships are a more informal arrangement and are created when two people agree to work together “with a view to profit”. 

There does not need to be any type of written agreement for a partnership to be formed, though it is recommended that document governing any type of partnership arrangement is produced.

A partnership does not have a separate legal personality, unlike a limited company. There is therefore a risk to the individual partners involved, whose personal assets may have to be used to pay any debts of the partnership.

A Limited Liability Partnership (LLP) is a more formalised version of a partnership, with the added protection of limited liability.  This means that partners are not personally liable for the debts of the partnership.  There are more formalities involved in incorporating an LLP, as they are registered with Companies House.  This also means that some details about the LLP are publicly available.

Quick links

Sign up

Enter your email address for legal updates on Corporate and Commercial law.

Please see our privacy policy regarding use of your data.


Partnerships and LLPs Team

  • All departments
  • Agricultural Law
  • Brexit
  • Careers
  • Co Co - Employee Share Schemes
  • Co Co - Recovery & Insolvency
  • Co Co - Restructuring
  • Co Co Corporate Governance
  • Co Co Corporate lending
  • Co Co Financial Services
  • Co Co Franchising
  • Co Co GDPR
  • Co Co in-house legal support
  • Co Co International Contracts
  • Co Co M&A's
  • Co Co MBOs & MBIs
  • Co Co Partnership and LLPs
  • Co Co Regulatory, Compliance & Competition
  • Co Co Shareholders Agreements
  • Co Co Terms and Conditions
  • Co Co- Intellectual Property
  • CoCo - Banking and Finance
  • CoCo - New Businsess
  • CoCo Competition Law
  • CoCo Consumer Law
  • CoCo Data Protection - Marketing
  • CoCo Data, IT & Technology
  • Commercial Law
  • Commercial Property
  • Construction
  • Corporate & Commercial
  • Corporate Law
  • Debt Recovery
  • Dispute Resolution
  • Disputes - Business
  • Disputes - Declarations of trust
  • Disputes - Probate and inheritance
  • Disputes - Professional negligence
  • Disputes - Restrictive Covenants
  • Disputes - Shareholders & Partnership
  • Disputes - Tenants in Residential Property
  • Disputes - Wills, trusts & probate disputes
  • Disputes and Small Claims
  • Disputes Construction
  • Disputes with Co-owners
  • Divorce
  • Employee - Termination
  • Employer - Termination
  • Employment
  • Employment - Business protection
  • Employment - Collective consultations
  • Employment - Contracts, services, consultancy
  • Employment - Employee benefits
  • Employment - Employee Procedures
  • Employment - Equality, discrimination and harassment
  • Employment - Family Friendly Rights
  • Employment - GDPR and Data Protection
  • Employment - Post employment obligations
  • Employment - Redundancy & Reorganisation
  • Employment - Settlement Agreements
  • Employment - Tribunal Claims
  • Employment - TUPE
  • Employment - Wages, holiday and sick pay
  • Employment - Workers rights
  • Employment Tribunal claims
  • Estate Administration
  • Expat Legal Services
  • Family Law
  • Financial Services
  • GDPR
  • Help to Buy
  • Immigration law
  • International Legal Services
  • Key Property Contacts
  • Land and Property Disputes
  • Land, development and construction
  • Lasting Powers of Attorney
  • Leasehold
  • Licensing Law
  • Money, Tax and Inheritance
  • New Build Conveyancing
  • Private Wealth and Inheritance
  • Professional Negligence
  • Property Finance
  • Property Law
  • Residential Property
  • Residential Property - Completions
  • Residential Property - Shared Ownership
  • Trainee Solicitor
  • Wills, Trusts & Probate

Latest news & insights

Contact us

    The information you submit will be handled in accordance with our privacy policy.

    Camberley
    Building 2  Watchmoor Park, Riverside Way, Camberley, Surrey  GU15 3YL
    +44 (0)1276 686 222

    Reading (Appointment only)
    The Abbey, Abbey Gardens, Abbey Street, Reading RG1 3BA
    +44 (0)1276 686 222

    Ascot (Appointment only)
    102, Berkshire House, 39-51 High Street, Ascot, Berkshire SL5 7HY
    +44 (0)1344 623388

    London (Appointment only)
    60 St Martins Lane, Covent Garden, London WC2N 4JS
    +44 (0)203 326 0317

    Wokingham (Appointment only)
    The Workstation Wokingham, Markham House, 20 Broad Street, Wokingham, RG40 1AH

    +44 (0)118 977 4045

    Email: info@herrington-carmichael.com

    Our Services

    Corporate Lawyers
    Commercial Lawyers
    Commercial Property Lawyers
    Conveyancing Solicitors
    Dispute Resolution Lawyers
    Divorce & Family Lawyers
    Employment Lawyers
    Immigration Law Services
    Private Wealth & Inheritance Lawyers
    Startups & New Business Lawyers

    © 2022 Herrington Carmichael LLP. Registered in England and Wales company number OC322293.

    Herrington Carmichael is authorised and regulated by the Solicitors Regulation Authority with registration number 446245.

    Pay Online

    Privacy Policy   |   Legal Notices, T&Cs, Complaints Resolution   |   Cookies 
    Client Feedback   |  Diversity Data