Standard LLC Agreement Template for England and Wales

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Key Requirements PROMPT example:

Standard LLC Agreement

"I need a Standard LLC Agreement for a technology startup with three founding members, adapted for English law, including specific provisions for intellectual property rights and a detailed profit-sharing structure to be implemented by March 2025."

Document background

The Standard LLC Agreement, adapted for English and Welsh law, is essential when establishing a limited liability business structure in the UK. This document is crucial for businesses seeking to define their operational framework while protecting members' personal assets. It comprehensively covers company formation, management structure, financial arrangements, and member relationships. The agreement ensures compliance with the Companies Act 2006 and other relevant UK legislation, providing a clear framework for business operations and dispute resolution.

Suggested Sections

1. Parties: Identification and details of all company members/shareholders

2. Background: Context and purpose of the company formation

3. Definitions: Key terms used throughout the agreement

4. Company Formation: Details of company structure and establishment

5. Management and Administration: Governance structure and decision-making processes

6. Capital Contributions: Initial and ongoing financial commitments

7. Profit and Loss Distribution: How financial returns and losses are allocated

8. Transfer of Shares/Interests: Procedures for transferring ownership

9. Termination: Circumstances and procedures for ending the agreement

Optional Sections

1. Non-Compete Provisions: Restrictions on competitive activities - use when protecting business interests from member competition

2. Intellectual Property Rights: Ownership and use of IP - include when IP is significant to the business

3. International Operations: Rules for overseas business activities - include when company operates internationally

4. Dispute Resolution: Specific procedures for resolving conflicts - include when standard termination provisions aren't sufficient

Suggested Schedules

1. Schedule 1: Initial Members and Capital Contributions: Detailed breakdown of members and their initial investments

2. Schedule 2: Business Plan: Initial business strategy and objectives

3. Schedule 3: Company Policies: Key operational policies and procedures

4. Appendix A: Specimen Share Certificate: Template for share certificates if applicable

5. Appendix B: Reserved Matters: List of decisions requiring special approval

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Professional Services
Technology
Real Estate
Retail
Manufacturing

Relevant Teams

Legal
Finance
Corporate Governance
Operations
Administration

Relevant Roles

Chief Executive Officer
Company Director
Chief Financial Officer
General Counsel
Company Secretary

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Let's create your Standard LLC Agreement

Authors

Alex Denne

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