LLP Agreement & Changes
The LLP Agreement governs how partners share profits, make decisions and exit the LLP — and any change to its terms needs to be documented and filed.
The LLP Agreement is the founding contract between an LLP's partners, covering profit-sharing ratios, capital contribution, roles and decision-making. Any amendment — a change in profit share, admission of a new partner, or a revised clause — must be captured in a supplementary agreement and reported to the Registrar of Companies in Form 3 within 30 days of the change.
What we help draft and file
Whether you're setting up a new LLP or updating an existing agreement.
- Drafting the original LLP Agreement at incorporation
- Supplementary agreements for profit-share changes
- Amendments on admission or resignation of partners
- Changes to capital contribution or business objects
- Filing the amendment in Form 3 with the ROC
- Reviewing existing agreements for compliance gaps
What typically triggers an amendment
Changes that require a supplementary agreement and a Form 3 filing.
Profit-Sharing Ratio
Any revision to how profits and losses are divided among partners needs to be documented and filed.
Partner Changes
Admission, resignation or a change in a partner's capital contribution alters the terms of the original agreement.
Business Objects
Adding a new line of business or changing the LLP's objects clause requires an amendment to the agreement.
Our process
From initial consultation to completion.
Identify the Change
Confirm exactly what is changing — profit share, partner roles, contribution or objects.
Draft the Supplementary Agreement
Prepare the amendment document reflecting the revised terms, signed by all partners.
Stamp & Execute
Get the agreement executed on appropriately valued stamp paper as per the state's stamp duty rules.
File Form 3
Report the amendment to the Registrar of Companies within 30 days of the change.
Why LLP Agreement changes get missed
What sets our approach apart.
Verbal understanding, no paperwork
Partners often agree to a change informally without updating the written agreement or notifying the ROC.
Stamp duty varies by state
Getting the supplementary agreement stamped correctly is easy to overlook, and it affects the document's enforceability.
30-day window is tight
Form 3 must be filed within 30 days of the change, which can pass quickly around a partner transition.
LLP Agreement & Changes questions answered
What people ask before engaging us.
Need to amend your LLP Agreement?
We'll draft the supplementary agreement and file it with the ROC.
