What is a Partnership Agreement?
A Partnership Agreement is a written agreement between two or more individuals who wish to go into business together with the intention of making a profit. This is an essential step when venturing into business with others, as disputes and circumstantial changes can massively impact a business. Having a Partnership Agreement is the only way to ensure the business and the individuals’ involved are able to survive.
How can our Commercial Law Solicitors help?
When entering into a business partnership, specific terms and conditions of the relationship between the partners must be clearly established. It is essential that you seek legal advice with a view to having a proper Partnership Agreement prepared. The agreement will allow each of the partners to manage the business according to agreed objectives and clarify at the outset the rights and obligations of the partners, including the financial contribution required from them.
A Partnership Agreement will provide a mechanism for:
- Protecting assets
- Distributing profits
- Determining the outcome of the death of a partner/if a partner chooses to leave
- Setting out how disputes will be resolved.
Morecrofts’ specialist team of commercial law solicitors are able to advise you on the best possible way of achieving a successful partnership. We are able to assist with producing an agreement that ensures your partnership is effective from its early stages, and address issues that may arise during the lifetime of the business.
How much does a Partnership Agreement cost?
Morecrofts understands how worrying legal costs can be. With this in mind, we have a range of payment plans available to suit whatever your budget and needs may be. We offer fixed fee packages as well as our traditional fee system. We are able to advise you on the best payment plan for you.
Contact our team
At Morecrofts, we are passionate about getting the best possible outcome for our clients. If you have any queries at all, our friendly team are here to help. Call us on 0151 236 8871, email us at firstname.lastname@example.org or use our contact form.