This agreement was updated to reflect the May 2014 Supreme Court decision on “worker” status under the Employment Rights Act of 1996. This means that individual members enjoy the legal rights and protection afforded to “workers” under legislation that governs, among other things, whistleblower protection, rest leave and paid annual leave. This basic-LLP agreement is derived from the wide-form LP agreement and covers all the essential points, but in a simpler form. It provides for equal capital contributions, the same distribution of profits and losses, that all partners work full-time in business and that they carry out the joint transaction, that no member can be appointed without the unanimous written agreement of all members and that two designated members are appointed. The Simply-Docs Long Form Partnership Agreement may be more suitable for a more comprehensive and demanding LLP agreement. This agreement is open format. Enter the required details in the raised fields or adjust the text for your purposes. Optional phrases/clauses are included in the brackets. These must be carefully read and selected to be compatible. Unused options should be removed from the document. The LLP Basic Agreement is a simple and short legal document that addresses the most important issues arising from a simple LLP agreement. This model can be used by a small business (or a professional services company) that requires a simple LLP structure.