Commerce : Partnerships

It may not be appropriate for every business to adopt a formal limited company structure.

Many businesses start out with more flexibility as a partnership before converting into a limited company once trading has become established. Others are bound by professional regulations to operate or by custom trade as a partnership.

We will advise you on the options available to you in terms of business structure. We advise on the formation of partnerships and can advise and assist in the drafting and agreement of the terms of a partnership agreement. We can also advise on Limited Partnerships and Limited Liability Partnerships, assist in the formation and registration of these entities and draft partnership and members agreements for you.

If the business relationship breaks down we can also advise and assist in relation to exit strategies and/ or dissolution of the chosen business vehicle. We can negotiate the terms for a principal’s retirement from the business and we can, if necessary also advise in connection with the expulsion of a principal.