A standard document limited liability partnership (LLP) agreement for use on either the establishment of a new business as an LLP or following the transfer of an existing partnership business to an LLP. The LLP agreement records the matters agreed between the LLP members in relation to the internal workings of the LLP. Among other things, the LLP agreement covers profit sharing, admission of the new members, management and decision making, retirement and expulsion from the LLP and entitlement and obligations of outgoing members.