Document background
The Managing Partner Agreement is a crucial document used when appointing or formalizing the position of a managing partner in professional partnerships operating under English and Welsh law. It serves as the primary contract governing the relationship between the managing partner and the partnership, detailing responsibilities, authority limits, compensation structure, and performance expectations. This agreement is essential for establishing clear leadership roles, ensuring smooth operations, and providing mechanisms for dispute resolution. It must comply with the Partnership Act 1890, Limited Liability Partnerships Act 2000 (if applicable), and other relevant legislation while addressing specific needs of the partnership structure.
