If two or more parties wish to come together for a common business venture, they are essentially faced with a choice between four legal entities – corporation, limited liability partnership (LLP), partnership or joint venture.
At the start of a partnership, the thought of a future dispute is often the last thing on your mind. Unfortunately, experience tells us problems can, and often do, arise. As a result, we strongly advise our clients going down this route to consider every aspect of the venture at the outset and make a formal agreement before going ahead. This often saves a good deal of stress, anxiety and money further down the line.
The partnership lawyers at Adams Law offer a comprehensive service for corporate clients concerning partnerships and LLPs. Our areas of specialism include:
- Partnership agreements and LLP formation
- Partnership and LLP conversions
- Disputes
- Departures and restructuring
- Liquidation and insolvency of partnerships and LLPs
Drafting partnership agreements
Having a partnership agreement in place at the outset is essential in ensuring that the duties and obligations of the various partners are clearly set out, allowing any disagreements that may arise to be resolved as quickly and straightforwardly as possible. A partnership agreement can also ensure that your business can continue to operate effectively should any disputes arise.
Our partnership solicitors can support in drafting the most suitable agreement for your business and circumstances. We can advise on matters such as the appropriate duration for the partnership, how assets should be used and shared, capital investment and dividend sharing, as well as putting in place terms that effectively manage the relationships between the individual partners and their responsibilities.
Updating partnership agreements
We regularly act on behalf of clients who already have a partnership agreement in place but wish to update this to reflect developments in their business or to take into account changes in legislation. Our partnership solicitors can review and amend an existing agreement, providing guidance on the most appropriate legal structure for your business.
Contact our Partnership Lawyers in London
Our partnership lawyers are on hand to discuss your business and answer any questions you may have about entering into a partnership.
To arrange a consultation, speak with a member of our corporate team today on 0207 790 2000 or complete our online enquiry form.