Can an LLP, a Limited Liability Partnership decide to have unanimous voting?
Limited Liability Partnerships A Limited Liability Partnership (LLP) is a new form of legal entity introduced on 6th April 2001 and is neither a company nor a partnership. It has its own legal personality just like a limited company and has unlimited legal capacity, e.g. to own property, employ staff, sue and be sued, create floating charges and join in other business enterprises such as being a partner in a partnership. LLPs have mainly appealed to larger professional partnerships that want the protection of limited liability for the negligence of other partners but maintaining the flexibility of the partnership set up. It can however prove useful for other smaller businesses and some joint ventures. LLPs and their Members Any person, including a company, can be a member of an LLP. There must be at least two members but there is no maximum. At least two members have to be “designated members” and have certain responsibilities for signing and filing documents. If none are designated by
