An LLP has six partners, two of whom contributed $10,000 each to the entity, and four of whom contributed $20,000 each to the entity. The LLP has a written LLP agreement, but the agreement does not address the sharing of profits. The LLP made $100,000 in profit last year. How will this profit be divided among the partners? Why? 

The profits will be divided into six equal parts. An LLP is a form of partnership - only one aspect is different: liability is limited. Thus, LLPs are governed by partnership law. Under partnership law, if partners fail to agree on division of profits, they are divided equally regardless of capital contribution.

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