Law firm registration

according to the staus calculate the percentage of the investment or capital brought to the firm.

Dear Rajeev This is the only thing they are not bringing any Investment or capital in the firm. Only A is the persin who is doing everything

dear karan, as you are the only man who is bringing capital, try to distribute expanses and profit as per merit of case with pre difined lowest and highest cap.

can i know that what is the property.

As already rightly advised let them be the sleeping partners as they do not have any stake at the LLP firm.

The two other proposed partners heing lawyers will be actively involved in firm. Therefore they cannot be sleeping partners. It will be ideal to claim rent on property and expenses before sharing if profit (if in equal ratio) or to allot higher profit ratio to partner bringing in capital.

You may execute a seperate agreement or underatanding with the other partners based upon profit sharing depending upon the business they bring in the firm.

Dear allot salary or percentage mode for sleeping partners.. v.vedanarayanan,Advocate, chennai High court

Dear allot salary or percentage mode for sleeping partners.. v.vedanarayanan,Advocate, chennai High court

Thanks for sharing a useful information.

Indiana Car Accident Lawyers

If You have an Idea of Giving your property for office purpose, please maitain that seperately. Fix a Rent for that and see to that u collect the rent every month (even in case u do not have any income that particular month).Secondly do not have any emotional Involvement  with your partners.Friendship and partnership must be treated seperately.All the expenditure occured on establishing the firm must be kept as a whole account.(Furnitures Books etc etc) as soon as your practise picks up ,slowly you have to deduct the amount from their share.Why i am telling this is ....My own experience .Make each and every partner to feel the pain of accountability  towards the Firm.

 

Dear FRIENDS

Thanks a lot for all your help now please let me prapose the Agreement in front of you guys and give me your valuable comments

I will be obliged

3 PARTNERS

Partner A ----- CHAIRPERSON AND MANAGING PARTNER
PARTNER B------ SENIOR PARTNER
PARTNER C----- SENIOR PARTNER

* NO RENT WILL BE SHARD FOR THE OFFICE SPACE
* NO FURNISHING AND DEVELOPMENT COST WILL BE CHARGED

RATIO OF THE PARTNERS FOR PROFIT AND LOSS SHARING

A      B     C
40:  30:  30= 100%

Out of which 5% will be deposited by A as the social corporate Responsibility towards an NGO which will be created by the fir itself.

The partner will be sharing the expenses of the Office boy, receptionist, expenditure in any case like gifting, Internet exp,electricity and other Misc expenses.etc equally 

No Private practice will be allowed by any of the person. Partner will be abide by the Terms and Condition.
Incentives will be given by the Firm (A) if any kind of work is brought to the firm extraordinarily.
 

Firm is planning to work PAN India Network basis. In future foreign collaboration can might take place.

No work will be forwarded to any other Lawyer but we can take legal opinion but in the end we should try it own.

ORGANIZATIONAL STRUCTURE

Managing Partner
      !!!                                   !!!!
Sr. Partner                    Sr. Partner

Partner( Future)             Partner(Future)
Associate                         Associate

The LLP agreement will be prepared by the partner A to rest of the partners. Partner  A will be holding Rights and other statutory Compliance for LLP Firm.