Can both the co-founders be non-executive directors

750 votes

Llps don't hv directors, they hv partners. You may go ahead with setting up the llp and being more active with your respective jobs as of now. Law does not prohibit that for llps..But I would like to understand that from where is the executive/ non executive director concept is coming from in your case. Are you thinking of setting up a company? If you talk about profits, who will manage the company that it starts reaping profits?

Advocate Mansi Airi Gambhir LawRato

626 votes

To answer your query you both can be non-executive directors of your LLP and can continue with your current job as well.

But then you have to hire someone for your LLP, who will act as a General Manager, Director, or CEO for your LLP making him/her responsible on papers to look after the affairs of your organisation.

Advocate Pulkit Prakash LawRato

742 votes

As Non -Executive Directors of an LLP co-founded jointly in the expectation of earning substantial profits while still continuing with the present employment may militate against the terms of employment / engagement with your current employer , if an implied ban on any nature of engagement with an entity other than the present employer conflicts with your present work and or which is strictly prohibited is strictly applied. Unless your present employer assents to your assumption as co-founders of an LLP continuance as Non Executive Directors even if your role is merely notional may become untenable.

Advocate Sumeet Kumar Maniktala LawRato