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The Multi Member LLC Agreement, adapted for UK jurisdiction as either an LLP Agreement or Shareholders' Agreement, is essential when two or more parties wish to establish a formal business structure with limited liability protection. While the LLC structure doesn't exist in the UK, this agreement serves the same purpose under English and Welsh law, typically used when founding a new business venture, admitting new members, or restructuring an existing partnership. It defines capital contributions, profit sharing, management rights, transfer restrictions, and dissolution procedures, providing crucial protection for all parties involved.
