The first complete guide containing everything needed to form, operate and dissolve a Delaware limited partnership, including forms prepared by the authors, explanations of every statutory section, and analysis of fiduciary duties, protections, reorganization, foreign limited partnerships, derivative actions, and indemnification rights. By Martin I. Lubaroff and Paul M. Altman. The text of every section of the Delaware Revised Uniform Limited Partnership Act, as revised from 1983 through 2011, is set out in full, showing additions and deletions in each version of the act. The explanations of every statutory section cover all practical aspects of forming, operating, and dissolving a limited partnership. Thorough explanations of statutory provisions are integrated with detailed analysis of case law from Delaware. Plus, timely coverage is given to critical legal issues: Fiduciary duties of the partners Protections related to the liability of limited partners Defining the financial aspects of the limited partnership General and limited partners Reorganization of a limited partnership with or into other types of business entities Foreign limited partnerships Derivative actions Indemnification rights that can be granted to partners under a partnership agreement Delaware limited liability companies

Whether your firm consists of two lawyers or five hundred, Law Firm Partnership Agreements is a must for your office. This book tackles the key "life events" of a law firm partnership--formation, setting compensation, partner admissions and departures, retirement, dissolution, termination of the partnership, mergers and acquisitions, and much more. For firms in the course of development, here is the advice you need for selecting the form of the entity--general partnership, professional corporation, or limited liability partnership--with the advantages and disadvantages of each. Also included are a state-of-the-art model partnership agreement and other practical forms of agreement, such as a "memorandum of understanding" for lateral partners that serves as an adjunct to the main agreement. In short, You'll get everything you need to ensure that your firm's partnership agreement is up to snuff. And all forms and clauses are included on an accompanying CD-ROM for ease of use. Filled with advice on structuring your firm to attract and keep talented lawyers, Law Firm Partnership Agreements will help your firm retain its competitive edge.