Document background
The Limited Liability Agreement serves as a fundamental document for businesses seeking to operate with protected personal liability under English and Welsh law. It is essential for companies looking to establish clear boundaries between personal and business assets, while defining operational frameworks and member responsibilities. This agreement is particularly crucial when multiple parties are involved in business ownership or when significant capital investments are at stake. The document typically includes provisions for governance, profit distribution, dispute resolution, and exit strategies, all while maintaining compliance with the Companies Act 2006 and related legislation.
