Our Partnership Agreement package is suitable for partnerships operating and/or trading in England and/or Wales.
We strongly recommend that all partnerships enter into a Partnership Agreement, even if the partners are close friends or members of the same family.
When it comes to Partnership Agreements one size does not fit all. That is why our agreements are tailored to your specific requirements. We do not provide a standard partnership agreement that claims to be suitable for all partnerships.
Partnerships like sole traders do not have the advantage of limited liability. Partners are personally liable for the debts of the partnership business. For this reason, potential partners should first consider whether a Limited Company or a Limited Liability Partnership (LLP) might be more suitable.
A partnership agreement is an agreement between the partners of a business. It protects the partners’ capital investment in the partnership business and fairly regulates the partners’ relationship with each other.
The agreement will (amongst other things):
We strongly recommend that all partnerships enter into one of these agreements. If the partnership is or will be made up of family and/or friends then having a partnership agreement is just as important as it is for business associates, or even strangers, forming a partnership together.
In the absence of a partnership agreement, the law will impose a default set of rights and obligations on the partners. It will even dictate when a partnership comes to an end. Having a written agreement gives partners the opportunity to vary or exclude the default position imposed by law, and to establish an agreement between the partners in other areas.
An agreement will provide clarity and certainty to the relationship between the partners, and will protect the partners’ investment in the business.
Many costly disputes have been resolved and problems avoided as a direct result of entering into one of these agreements.
Not any more; the law has been reformed to allow partnerships to have an unlimited number of partners.
Click the ‘MAKE ENQUIRY’ button below or call us on 08456 800 727.
Total Price: £1,750 + VAT