Partnerships
Partnership issues
Partnerships are a common way of doing business and can have a number of advantages
over sole traders or companies. They often evolve naturally and many are run on
nothing more than a verbal agreement. Whilst this “ad hoc” nature can work very
well and may suit the individuals themselves, it can also lead to problems if the
parties fall out or an unexpected or unforeseen event occurs.
Our legal advisers can help at all stages in any partnership’s life and we can:
- Advise whether or not a partnership is the most suitable vehicle for the business
at that stage in its life.
- Advise on plans for the future development of the partnership so that any change
or consolidation occurs in a planned and coherent fashion.
- Advise on issues of retirement and succession to ensure that the business can survive
and continue for future generations.
- Draft Partnership Agreements setting out the way the partnership will be run and
the rights and responsibilities of each partner. This document is often well worth
the initial time and trouble to draft and can prevent many costly disputes arising
in the future.
- Help the business to plan for unforeseen and potentially damaging loss of key members.
Our in house financial services department can advise and arrange suitable insurance
policies to protect the partners for such eventualities.
Whether you are looking to set up a partnership or rationalise your existing business
we can help. Our lawyers have many years experience in this form of trading and
we ourselves are a successful partnership of many years standing.
Contact Us
If you would like to arrange an appointment to see a member of our Commercial Team
to discuss partnerships or any other commercial law issue, please e-mail
company.commercial@chattertons.com
or phone a member of our Commercial Team on one of the numbers given below.
Contact Details
Company Commercial Team