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Partnerships & LLPs
Business owners often choose a Partnership or LLP structure for their enterprises for regulatory or tax benefits. Both offer flexibility in ownership and LLPs can bring additional liability protection.
We represent and advise partners and members of LLPs by helping from the outset to define their legal and business relationship with each other.
We deal with the admission, retirement and expulsion of partners – and with other issues such as property belonging to or used by the partnership. We create a clear framework covering the capital contributions and the distribution of profits and losses.
Put simply – we get into place a robust trading and operational framework that protects business interests.
Work scope
- Discussing with partners their aims and objectives in respect of the partnership or LLP
- Preparing and negotiating a Partnership Agreement or LLP Agreement
- Advising on the admission, retirement and expulsion of partners
- Advising on capital contributions and the distribution of profits and losses
- Advising on procedures for decision-making on important issues
Recent deals & cases undertaken
We have recently prepared Agreements for:
- A partnership of trade mark and patent agents
- A partnership operating a campsite business
- A firm of London-based chartered accountants
