Partnerships and LLPs
We act for partnerships in all areas of professional practice, from mergers, demergers and strategic alliances to partnership disputes and the departure of partners.
Our clients include those already in established partnerships or those who are planning to form a partnership or joint venture. Our team covers traditional partnership structures as well as Limited Liability Partnerships (LLPs), Limited Partnerships and Joint Ventures.
We regularly advise on the formation, conversion and dissolution of partnerships and alternative structures involving considerations such as:
- the level of personal investment required from each partner
- the allocation of profits and losses between partners
- procedural matters such as what should happen if a partner wishes to exit or a new partner is to be admitted
- the procedures for resolving disputes and terminating the partnership
A Limited Liability Partnership (LLP) option is very similar to that of a traditional partnership and offers much of the same organisational flexibility, with fewer formalities than a limited company. We help guide clients through choosing the correct structure for their venture and if that is an LLP, we assist with each stage of the LLP registration process and annual compliance requirements.
We take a practical and commercial approach to our clients’ requirements with focus on the commercial considerations in tailoring the partnership agreement or its dissolution.