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Corporate & Commercial - Partnership Agreements

Partnership agreements are slightly different to shareholders agreements as they relate to businesses of a different structure to companies, however, many of the key provisions are similar. A successful partnership is built on trust, and as long as the partners each know their respective responsibilities the business can move forward efficiently.

Where partnerships are concerned, we always advise that a properly drafted partnership agreement should be put in place to prevent disputes further down the line – as with most things in life, prevention is better than cure!

All of the potential partners in a business should meet and discuss the following:

  • The name of the partnership
  • The contribution of each partner in terms of finances and assets
  • The duties of each partner
  • Any relevant ownership percentages
  • Accountability
  • Risk allocation
  • Profit allocation
  • External work and conflicts of interest
  • Insolvency
  • Restrictive covenants
  • Decision making
  • How new partners can join and how old partners can leave
  • Management provisions
  • Confidentiality and intellectual property rights

Unlike a traditional law firm, we don't charge by the hour and we won't charge for each phone call or email. Instead, all of our fees are fixed and agreed with you upfront. If you would prefer to retain our ongoing support, we will be happy to structure a fixed monthly fee on terms that are flexible to help grow and protect your business.

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