Partnership transactions cover the creation, management and winding up of business partnerships. In England, this includes drafting and negotiating partnership agreements or deeds of partnership, admitting new or withdrawing retiring partners, handling capital and profit shares, and dealing with changes of partnership structure such as formations of general or limited liability partnerships and LLPs. It also includes handling disputes, partner retirements, buyouts, and dissolution or winding up of the partnership, including interest transfers and template arrangements for the sale of a partnership interest.
Why this work is usually handled by a solicitor
A solicitor provides professional oversight for the drafting of definitive partnership documents, ensures compliance with partnership law and regulatory duties, and coordinates with professional indemnity insurance, client accounts and, where needed, authorities or regulators. They guide complex arrangements, resolve disputes through negotiation or litigation, and advise on consequences of changes like admissions and exits to protect the client’s position.
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