This work covers drafting and negotiating partnership agreements for businesses that operate as partnerships or intend to form one, including general partnerships, limited partnerships and LLPs. A solicitor in this area drafts the partnership deed, sets out profit sharing, decision making, roles and dissolution provisions, and addresses change of partners, admission of new partners and conflict management. They also advise on governance, dispute resolution, and compliance with relevant partnership and company rules, ensuring the arrangement reflects commercial aims and risk allocation.
What a solicitor handles in these matters
The solicitor handles provisions, capital contributions, profit shares, admitted partners and exit arrangements, plus reviewing or negotiating restrictive covenants and competition restrictions within the partnership agreement. They manage interactions with accountants, banks, and potential investors, and ensure the deed aligns with applicable company structures, tax considerations, and regulatory requirements to reduce future disputes.
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