Partnership Agreement

Description

A partnership is a type of business where two or more individuals are in agreement to carry on a business, trade or other activity together and share the profits and losses between them. A Partnership Agreement (also known as a Partnership Deed or Deed of Partnership) is a business management and ownership arrangement between the participants in a Partnership (and, we recommend, the Partnership itself) that will regulate the way that a Partnership is controlled and trades. A Partnership Agreement supplements the implied legal position (e.g. under the Partnership Act 1890) and the engagement terms of its senior employees, and will have provisions dealing with:

  • Management, including rights and responsibilities of the partners
  • Admittance and expulsion of partners
  • Partners’ involvement in other businesses
  • Business ownership, especially “exit strategies”
  • Investment terms, how profits are shared, how assets (including Intellectual Property like trade names) are divided, and who would be liable for any business debts
  • Termination of the Partnership.
  • Our packaged internet-sold product assumes that our clients will have already understood the benefits and implications, will have decided to participate in a Partnership Agreement prior to their decision to buy our internet Partnership Agreement product. We can also advise on the matters mentioned in a bespoke retainer. Please Contact Us for more information.

How long will it take?

Our work from initial instruction to finalising the form of agreement generally takes about 7-10 working days. Special dispatch may be available where necessary at an extra charge.

Our work for you includes:

  • Taking your instructions
  • Drafting the Partnership Agreement
  • A Guidance service.

Money Matters

Your supplier is unregulated Mounteney Legal Services Limited, that does not charge VAT

Our work will be charged at a fixed fee of £525 including VAT.

There is more about our fees on our website here

If you have any questions or require any further information, please don’t hesitate to Contact Us.