Duty to Act in Good Faith

• Partners must act in good faith and with integrity in all LLP matters
  
• They are expected to work in the best interest of the LLP and its partners
  
• Personal interest should not override collective business goals
  
• Ethical conduct is essential in both internal and external dealings
  
• Partners should avoid behavior that may harm the reputation or stability of the LLP
  

Duty to Disclose and Inform

• Partners must fully disclose material facts that affect LLP operations
  
• Any potential conflict of interest must be promptly reported to other partners
  
• They are required to share important information related to business decisions
  
• Transparency in communication is vital to maintaining trust and cooperation
  
• Failure to disclose relevant facts may result in legal consequences or disputes
  

Duty to Maintain Confidentiality

• Partners must not disclose confidential business information to outsiders
  
• This duty continues even after a partner exits the LLP
  
• Confidentiality covers financial data, client lists, internal strategies, and other proprietary information
  
• The LLP Agreement may further define specific confidentiality clauses
  
• Any unauthorized sharing of information is considered a breach of duty
  

Duty to Contribute and Perform

• Partners must contribute capital or services as agreed in the LLP Agreement
  
• They must fulfill their roles and carry out assigned responsibilities
  
• Failure to perform may affect profit sharing or lead to legal action
  
• Partners should act with reasonable care, skill, and diligence
  
• The LLP relies on the individual commitment of each partner for smooth functioning
  

Duty to Comply with the Law

• Partners must ensure compliance with all applicable laws and regulations
  
• Designated partners have additional responsibilities for filings and statutory disclosures
  
• They must help maintain books of account, file returns, and meet tax obligations
  
• Partners must follow provisions under the LLP Act and LLP Agreement
  
• Non-compliance can lead to penalties, disqualification, or legal liabilities