Partnership & LLP Agreements

The partnership or LLP agreement forms the legal foundation of the firm. If it is not suitable for the job, unclear or too inflexible, you can be sure that problems will arise. We believe in using plain, straightforward English. We draft clear agreements to fit with the organisation and its structure.

The complexity of the agreement will depend in part on the size and nature of the firm. However, we believe in keeping the agreement as straightforward as it can be while dealing with the key issues. These include:

  • the firm’s business
  • capital contributions
  • partners’/LLP members’ duties
  • remuneration/drawings/profit share
  • responsibility for liabilities/losses
  • voting rights
  • new partners/LLP members joining
  • exiting/ retiring partners/LLP members
  • garden leave and post-termination restrictions

We regularly assist partnerships & LLPs in the following ways:

  • Drafting agreements tailored for the organisation;
  • Reviewing existing agreements and, where appropriate, suggesting and drafting changes;
  • Advising on the application and enforcement of key terms in partnership & LLP agreements;
  • Defending and/or pursuing claims under the terms in partnership & LLP agreements through the Courts and Tribunals;
  • Where appropriate settling disputes through negotiation and/or mediation.