Our partnership team has broad experience of partnership matters for a wide range of businesses and professions including:
- Partners or members agreements
- New partners
- Retirement or expulsion of partners and dissolution agreements
- Restrictive covenants
- Limiting liability
- Acquisitions, sales and mergers
- Conversion of partnerships to companies or Limited Liability Partnerships (LLPs)
- Use of partnerships and LLPs for investment, tax or other structuring purposes
Clients say the firm ‘seriously gets into the issues’.
LLPs are becoming more widely used as they provide limited liability for all the members and the advantage of a separate legal entity with the same tax treatment as applies to an ordinary partnership. LLPs, whilst offering substantial protection, do not solve all concerns over personal liability and we are experienced in limiting the liabilities of individual members.
It is important, particularly in relation to LLPs, to have written agreements between the parties, because the rules that will apply in default of a written or implied agreement can often not be what the parties intended.
Our clients range from very large businesses to the smallest start-ups. They include single purpose vehicles (e.g. for tax saving schemes) and partnerships between corporate partners, both national and international.