Partnership Agreement Services
Ensure you and your business are protected for the future
If you are entering into a commercial partnership, it is vital that you create a partnership agreement at the outset of your venture, as this will ensure you and your business are protected for the future.
As a legal document, a partnership agreement details the terms and conditions imposed upon your business arrangement. This covers a wide variety of information which together will clarify the rights and responsibilities of each partner. At Solicitor Direct we understand you have many things to discuss and consider and the legal side of the conversations may not be a priority. We aspire to deliver a service which is fast, efficient and ensures the correct structures are in place. We will work hard to keep you up dated and ensure we are achieving your business outcomes with efficiency and a great deal of clarity.
What to put in a Partnership Agreement?
This will ultimately depend on the type of business you have, the pitfalls, the finances and relationships. Some examples of issues to include is:
- How profits and shares should be distributed
- The ownership of assets
- How the partnership can be dissolved
- How a partner can retire, leave or be removed
- If there is any restraint of trade
- How disputes should be resolved
It can be difficult to ask for a partnership agreement as it may seem a very formal thing to do at this stage. It is not particularly great to be thinking about things going wrong as you will probably be full of optimism for the future. This is all very well, but differences of opinion between business partners can turn into a full-blown dispute later down the line. This can be extremely damaging, potentially leading to the ruin of the business.
The only way to avoid this is to have a well drafted partnership agreement drawn up. This will offer up a process of dispute resolution, such as arbitration, should it be required. It will also stipulate the obligations and liabilities of each partner, ensuring everybody knows where they stand. If a problem does subsequently arise, a swift and straightforward solution can be reached, as the correct protocol will be laid out in the terms of the agreement. This is a legally binding document, so the conditions must be adhered to.
Solicitor Direct Partnership Agreements Service
As you may very well understand partnership agreements are not an item of the shelf. They are bespoke and something which needs to be created for you, your business and works. Spending a little time and effort at the outset can begin your new venture on a secure and stable foundation. There are plenty of partnership agreement templates available online. However, this will not offer the level of protection you require, as it will not be tailor-made to fit your business. Instead you should speak to us as this will guarantee you have a watertight legal document in place, specially designed to meet the needs of your partnership.
Contact Solicitor Direct
For a free initial consultation / information or to instruct to help draft an agreement for you simply call on 01772 424999, email enquiries@solicitordirect.com or visit us at 71 Hough Lane Leyland PR25 2SA.
