What does Limitation of Liability Mean for your Partnership?
A Partnership Agreement is a written record of the duties and responsibilities of each of the partners, which is incredibly important, especially if a dispute arises later on down the track.
A Limitation of Liability Agreement is an effective tool to transfer, avoid or manage risks within a Partnership. It is primarily used when a General Partner wishes to have their liability indemnified by the Partnership to put them in a protected position in order to act in the best interests of the Partnership as a whole.
By supplementing our Partnership Agreement you are protecting not only your own interest but the best interests of the business as well.