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A new partnership agreement for a standard partnership of two to four partners. Covers contributions, profit shares, decision-making, retirement, expulsion, and dissolution. Suitable for professional services partnerships, trades, and small business partnerships where the partnership structure and profit-sharing are relatively straightforward.
What’s included:
A consultation to understand the partnership structure, contributions, and commercial arrangements.
Drafting of a partnership agreement for up to four partners, covering capital contributions, profit and loss sharing, drawings, management and decision-making, restrictive covenants, retirement, expulsion, and dissolution.
One round of revisions based on your feedback.
Final version ready for execution by all partners.
What’s not included:
Partnerships with five or more partners (I can quote for these separately).
Multi-tier or LLP conversion structures.
Property partnerships or partnerships holding significant real estate (additional provisions required).
Negotiation with the other party beyond the scope described above.
Tax advice (including VAT, corporation tax, income tax, capital gains tax, and stamp duty).
FAQ
Q: What if we have more than four partners?
A: Partnerships with five or more partners often involve more complex governance, voting, and profit-sharing arrangements. I can provide a quote after a short consultation to understand the structure.
Q: How is this different from an LLP agreement?
A: A traditional partnership does not have separate legal personality and partners have unlimited liability for the partnership’s debts. An LLP is a separate legal entity and members’ liability is limited. The choice between the two has significant legal and tax implications.
A new partnership agreement for a standard partnership of two to four partners. Covers contributions, profit shares, decision-making, retirement, expulsion, and dissolution. Suitable for professional services partnerships, trades, and small business partnerships where the partnership structure and profit-sharing are relatively straightforward.
What’s included:
A consultation to understand the partnership structure, contributions, and commercial arrangements.
Drafting of a partnership agreement for up to four partners, covering capital contributions, profit and loss sharing, drawings, management and decision-making, restrictive covenants, retirement, expulsion, and dissolution.
One round of revisions based on your feedback.
Final version ready for execution by all partners.
What’s not included:
Partnerships with five or more partners (I can quote for these separately).
Multi-tier or LLP conversion structures.
Property partnerships or partnerships holding significant real estate (additional provisions required).
Negotiation with the other party beyond the scope described above.
Tax advice (including VAT, corporation tax, income tax, capital gains tax, and stamp duty).
FAQ
Q: What if we have more than four partners?
A: Partnerships with five or more partners often involve more complex governance, voting, and profit-sharing arrangements. I can provide a quote after a short consultation to understand the structure.
Q: How is this different from an LLP agreement?
A: A traditional partnership does not have separate legal personality and partners have unlimited liability for the partnership’s debts. An LLP is a separate legal entity and members’ liability is limited. The choice between the two has significant legal and tax implications.