LLP agreement requires change or modification based on the alteration done in the
business as well as the partner's position and other information regarding the partnership as found below:
- Change in Business Activities.
- Change in the Clause of Agreement (addition/removal).
- Change in Capital Contribution of the Partners (Addition/Reduction/Ratio).
- Change in Management Structure.
- Change of terms or conditions for Addition/Appointment/Removal/Retirement/Resignation of Partner(s).
- Change in profit sharing ratio.
- Change in rights and liabilities of partners.
- Change in duration of LLP (Incase the LLP is registered for a certain time
period).