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A general partnership is a business carried on by two or more people who share profits and losses. A solicitor helps draft a partnership agreement, sets out each partner’s rights, duties and liabilities, advises on borrowing, admission or removal of partners, and assists with dissolution or winding up of the partnership. They review partner authority, potential conflicts of interest, and the tax and regulatory implications for the partners and the firm.
A general partnership relies on mutual liability among partners and on clear partnership terms. A solicitor can draft or refine a partnership agreement, address profit-sharing, admission of new partners, partner authority for contracts, and processes for addressing disputes or exit. They also explain how liabilities attach personally to partners and how decisions are made, especially where authority is contested or where enforceable notices or deeds are required.
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