Whether you are looking to form a new partnership, or are experiencing issues with an existing partnership, seeking legal advice at the earliest possible opportunity is essential.
Entering into a new partnership, or even joining an existing one, can be a daunting prospect and requires careful thought as to the various partners’ responsibilities, rights and restrictions upon partners, how partnership finances are to be dealt with and what is to happen if a partner were to leave. We can help advise on such matters and to document the same in Partnership Agreement. As with a Shareholders’ Agreement when dealing with a company, a well drafted Partnership Agreement will help to address any areas of conflict that could arise later down the line.
Unfortunately, some partnerships do break down and in such circumstances we can assist with negotiations to bring the partnership to an end, culminating in a Deed of Dissolution, or to remove particular partners and replace them with others, allowing the partnership to continue.
Please contact the Commercial Team for more information.