Creating Partnership Agreements That Work For You
Partners in a business need to regulate their relationship in order to minimise disagreements and maximise commercial efficiency. While a business partnership is not legally obliged to put an agreement in place it makes a great deal of corporate, financial and personal sense to do so.
With a partnership agreement, you can document how you wish any future issues to be handled among or between partners and outline the procedures to be used.
These are just some of the areas partnership agreements cover:
- How company profit and loss are divided
- What happens when a partner leaves, how to deal with an exit and how to divide the person’s share of assets and profits
- How to deal with matters when a partner dies, and what to do with the assets and profits
- Who makes the decisions, which decisions are made by individual partners and which are made unanimously
- The day-to-day operations, how these are monitored and managed, and by whom
Partnership agreements protect you, the business and your partners, and enable you to focus on the running of your firm without the worry of what-ifs as any future issues can be dealt with according to the legal contract.
How Our Business Services Team Can Help You
Business agreements are complex and so are the working relationships of partnerships. Every partner needs to understand what he or she is signing, and the potential obligations and limitations, liabilities and exit options. This is why every partnership agreement is unique and our commercial lawyers make sure your particular contract covers all the areas that are relevant to your business.
With our expertise and legal guidance, you can put the protections in place to safeguard your business and partnership. We have a proven track record of successfully drawing up partnership agreements for businesses of all sizes, to reduce the potential for future disagreements and enhance the day-to-day working life for all partners.
For an initial consultation with one of our partnership agreements lawyers, contact us today. Every aspect of your particular business partnership will be taken into account in any legal advice we offer and agreement we draw up, providing the best protection for you, your business and assets now and in the future.