Partnerships

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 click here or phone a member of our Commercial Team on one of the numbers given below.
 

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 Details

Horncastle	(01507) 522456	Stuart Cox or Roland Freeman
Grantham	(01476) 591550	Tim Salt, John Earth or Raj Sodhi
Boston	(01205) 351114	Peter Cropley or Jonathan Blythe
Sleaford	(01529) 411500	Robert Alcock
Spalding	(01775) 725664	Elizabeth Hopkins
Lincoln	(01522) 814600	Emma Clement
Newark	(01636) 673731	Vanda Barnard or Chris Dobbs
Stamford	(01780) 764145	Rodney Blezard