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of <h1>LLP Partners Share Equally in Profits and Losses; Unanimous Consent Required for New Partners and Business Changes</h1> In the absence of an agreement, the mutual rights and duties of partners in a limited liability partnership (LLP) are governed by statutory provisions. Partners share equally in capital, profits, and losses, and the LLP indemnifies partners for liabilities incurred in business conduct. Partners must indemnify the LLP for losses caused by their fraud. Management participation is allowed for all partners, but no remuneration is provided. Partner admission requires unanimous consent, and decisions are made by majority vote, except for business nature changes, which need full consent. Partners must account for benefits derived without LLP consent, and disputes are resolved through arbitration.
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