While partnerships and LLPs share many of the same commercial considerations as any other business, the legal framework in which they operate requires a unique approach. Our specialist lawyers advice on all aspects of partnership agreements and partnership disputes.
Our work for partnerships and LLPs encompasses the full spectrum, including everything from basic partnership or members' agreements to those incorporating more complex arrangements in respect of capital contributions, sharing of profits and losses, and voting rights.
Every partnership or LLP, whatever its size, should have its own bespoke partnership or members' agreement and this should be reviewed at regular intervals, to avoid problems that result in unnecessary costs and significant pressures on the collegiate culture of a partnership.
We would obviously rather use our expertise in this area to help you avoid disputes, but where a dispute arises we can help ensure that it is handled in as efficient and cost-effective a way as possible.
If you are considering trading through a limited partnership (in which one or more of the partners has limited liability) we can help advise you on the advantages and disadvantages, as well as ensure you satisfy all the necessary conditions.
Our Medical Practices Unit provides specialist advice to GP partnerships across the UK.