Can someone described as a partner ever have employment rights and can someone described as an employee ever be deemed a partner? Continue reading “When is an partner not a partner? Or an employee not an employee?”
Quiz question: you are offered a job in an LLP with a salary plus a 1% equity share; you accept the job but never sign any terms governing the equity share; you are not even shown the LLP agreement but are shown a draft new agreement. What is your position regarding the equity share?
- A) You don’t have an equity share because you never agreed terms.
- B) You have a share governed by the LLP agreement which you did not see.
- C) You have a share governed by the draft new LLP agreement.
- D) You have a share governed by the default provisions of the LLP Act.
Tribunal Monkey 