Partnership agreement

The fact that you’ve reached this page probably means 2 things – you’re going into partnership and considering how best to record an agreement with your business partner or partners.

You may already have done some research and located some online resources for buying an off the shelf partnership agreement. We’re not going to lie, some of the templates or precedents are now pretty good and competitively priced.

However, a partnership agreement is a critical document and as with all things legal, one size rarely fits all. In addition, there may be clauses in a standard template which :-

  • are inherently optional or variable where you need to understand the options
  • your and your partners do not agree on
  • which are not industry specific for your business – a good example here would be a medical partnership

At Darlingtons we have a highly commercial approach to law. We know that it can be tempting for clients to buy cheap legal templates rather than to commit to costs possibly in the thousands of pounds. Consequently, we offer fixed fees for initial steps in the process of creating a fully tailored partnership agreement.

This process helps to clarify any fundamental issues which are not agreed, and those which are relevant to your business particularly. Once this fact find is complete, you are then in a much better position to decide whether to instruct us to proceed with a full partnership agreement or you can buy a template.

The above approach represents an excellent balance between the risk of using an inappropriate or misunderstood partnership agreement as against the concern of incurring expensive legal fees.

Please get in touch for further details.

 

 

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