Entering a partnership demands a clear legal framework to:
- outline responsibilities
- record invested capital
- specify how future disputes will be resolved
At Nath Solicitors in London we have over 30 years’ experience in creating and negotiating partnership agreements for professionals and SMEs.
Why do I need a partnership agreement?
Without a comprehensive partnership agreement in place you run the risk of serious consequences. You can avoid these with a partnership agreement. For example you might be forced to close the business if one partner dies or a dispute causes one partner to resign.
An agreement to drive growth and prosperity
Businesses that are organised, with clear, well-thought-out agreements in place are in the best position to achieve success.
Our team will take the time to listen to all members of the partnership, and discover your key objectives, challenges and opportunities. Using this information we will draft a bespoke agreement.
What are the most important partnership agreement provisions?
A robust partnership agreement contains, but is not limited to, the following clauses:
- the name of the business and what it does
- the amount of capital each partner has injected into the venture
- the responsibilities of each partner
- how the profits will be distributed
- how decisions will be made
- how holidays, sick days and parental leave will be managed
- a clear disputes resolution procedure
- the circumstances in which a partner would be expelled and the procedure for doing so
- the procedure for managing the resignation or death of a partner
Get in touch
At Nath Solicitors, we are in business too. We understand your priorities. With a tailor-made partnership agreement in place you will have a solid base to build and develop your business.
To discuss how we can assist you with drafting bespoke partnership agreements for your company, please call our London office on 0203 670 5540 or contact us online.