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Partnership Agreements
An alternative to a company structure is the more traditional partnership. Defined as “two or more people acting together for profit” it has often been described as a marriage. This is probably because as a partner you have unlimited liability not just for your actions but also for those of your fellow partners.
In order to avoid any disputes at a later date, we strongly recommend putting in place a partnership agreement which includes matters such as:
- the basis on which you are prepared to do business with each other
- the appointment and retirement of partners from the business
- profit and loss sharing
- drawings from the business
- payment on the death of a partner
- decision making
We have many years of experience in drafting partnership agreements and can help you think through all the issues that need to be covered. We will draft an agreement which reflects what you want to cover and makes it clear for all parties concerned.
To speak to someone who can help with partnership agreements or any other legal matters relating to your business call, email or request a call back from one of our specialist lawyers.