LLPs and partnerships are a popular form of business structure. Each type of partnership presents a different way of running a business and our challenge is to successfully ensure that the business structure supports your organisational vision and strategic objectives.
Advice on an LLP or a partnership is a regular occurrence for us. Within that, we are often addressing matters such as how capital should be apportioned, how profits or losses are divided, whether land and other assets are to be treated as partnership assets and how the partnership will be managed.
The various rights and duties of each of the partners, the implications of the death or retirement of a partner are just some of the other aspects we get involved in. We also deal with partnership break-ups and disputes and understand the difficult legal and emotional issues which can be present in these situations.
We advise on:
- Preparation of partnership agreements and related documentation
- LLP incorporation
- Practice management
- Conversion from a partnership to LLP
- Restructuring of partnerships or LLPs
- Mergers and demergers (both contentious and non-contentious)
- Successor/survivor planning and disputes
- Farming partnerships
- Family partnerships and business structures
- Restrictive covenants
- Partnerships for investment purposes
- Partnership disputes
- Partnership termination
- Retirement arrangements
Recent examples of our experience advising on LLPs and partnerships include:
- Advising on a complex farming partnership dispute, which included arguments around partnership property and trusts.
- Assisting in the negotiation and preparation of a partnership agreement for a family run business.