There is no requirement for the LLP agreement even to be in writing because simple partnership-based regulations apply by way of default provisions. It has been closely replicated by Japan, Dubai, and Qatar. It is perhaps closest in nature to a limited liability company in the United States of America although it may be distinguished from that entity by the fact that the LLC, while having a legal existence independent of its members, is not technically a corporate body because its legal existence is time limited and therefore not "continuing."