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Q.Silent partner in LLP
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Q. Silent partner in LLP

Sir,

I am salaried employee of IT company. I want to enter in business with my brothers and form the LLP. I will be the silent partner in LLP.

Please let me know in what are the legal implication being salaried employee of other company and being silent partner in LLP.
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A. If your employer has no issue then you can go ahead.

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A. It depends on the IT company terms & conditions and also their NOC for entering in the partnership even as sleeping/Silent/Non-Executive partner, so as to avoid any legal and conflicting interest of the company.

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Ambrose Leo

Experience: 9 Year(s)

Responded 1 year ago

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A. You can be a silent or sleeping partner but need to be careful that you don't take any executive role as that would clash with your present employment. If you need you can speak to me and get all information on this. You can ask team Vidhikarya for an appointment with me.

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Categories
Administrative Law (470)
Adoption (125)
Advertising (59)
Animal Laws (40)
Arbitration and Medi... (50)
Aviation (16)
Banking (593)
Bankruptcy and Debt (201)
Cheque Bounce (424)
Child Custody (166)
Civil (2161)
Commercial (93)
Consumer Protection (583)
Contracts and Agreem... (490)
Corporate and Incorp... (114)
Criminal (1692)
Customs, Excise (42)
Cyber, Internet, Inf... (354)
Debt and Lending Agr... (79)
Debt Collection (178)
Divorce (667)
Divorce and Separati... (1602)
Documentation (316)
Domestic Violence (645)
Election Campaign an... (23)
Employment and Labou... (1172)
Environment and Natu... (31)
Equipment Finance an... (3)
Family (2060)
Financial Markets an... (101)
Government Contracts (57)
Human Rights (278)
Immigration (56)
Industrial Laws (66)
Insurance (81)
Intellectual Propert... (111)
International Laws (12)
IT Contracts (54)
Juvenile (17)
Landlord and Tenant (630)
Licensing (21)
Mail Fraud (18)
Maternity (61)
Media, Communication... (16)
Mergers and Acquisit... (20)
Military Laws (17)
Motor Accident (145)
Muslim Laws (60)
Outsourcing Agreemen... (5)
Partnership (64)
Police Laws (64)
Power of Attorney (75)
Privacy (97)
Property (3038)
Real Estate (433)
Registration (139)
RTI (111)
Sale (61)
Sale of Goods (20)
Sex Crime (142)
Sexual Harassment (6)
Sexual Harassment at... (69)
Software License (4)
Tax (19)
Tax-GST (11)
Tax-Income Tax (26)
Tax-Property Tax (35)
Telecommunication (13)
Torts (22)
Transportation (64)
Trust and Society (N... (89)
Will (144)
Work Permits (33)
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