Partnership Agreement

If you run a business with at least one other person, and your business is not a limited company, then you should have a partnership agreement in place. That’s the case even for family-run businesses, which tend to have more informal arrangements.

A partnership agreement sets out how the relationship between the partners and how partners interact with each other. It will clarify important issues such as:

• How profits are distributed
• How decisions are made in the business
• What happens when a partner retires or leaves the partnership
• How you’ll deal with disputes between the partners

This service is for drafting a partnership agreement, in circumstances where the key terms of business are already agreed upon between the partners. If you would like a lawyer to review a partnership agreement that has been drafted elsewhere, in order to advise you on your risks and rights, please select our reviewing documents service.

A 60 minute consultation with your lawyer to align objectives. You’ll discuss

• Who the partners are and their roles in the business
• The ways in which you intend to share profits
• The objectives you want to achieve with the agreement
• Your specific questions about the agreement
• The key information your lawyer needs from you to begin drafting the agreement
• The default position under the Partnership Act 1980 if the agreement is not signed or you continue without a partnership agreement.

You’ll receive a professionally drafted partnership agreement.