Partnership Agreement Solicitors Brighton and Hove

What the agreement involves entirely depends on what you, your business partners, and your company are looking to achieve. Due to every company’s intentions being different, drafting or reviewing a partnership agreement, we will always recommend arranging an initial consultation. An initial consultation ensures our solicitors understand how you intend each business partner to work in the business, and how you work with each other.

Some agreement procedures may be straightforward and simply require our solicitors to review a pre-drafted agreement. We will help to remove or re-draft any unfair, or unenforceable terms and conditions that may cause issues further down the line.

If a fresh partnership agreement is required, we will help you to draft a bespoke agreement from scratch.

It’s crucial if you are presented with a partnership agreement, that you seek independent legal advice on the agreement to ensure you understand its contents. Failing to do so may mean you sign a document that carries risks to you and your financial position.

But, as a rough guideline, a straightforward agreement can cost upwards of £800 plus VAT. For more complex agreements, this price may increase in line with the time required to draft them.

Agreements that include multiple partners, multiple businesses, or agreements that require several layers of protection and dispute resolution for partners will typically increase costings.

A simple partnership agreement can take as little as 1 to 2 weeks to be drafted, from initial consultation, to you receiving the first draft.

If the agreement is particularly complex, you can expect the time frame to increase to 2 to 4 weeks.

Depending on your matter, the typical drafting of a partnership agreement will involve:

1. An initial consultation to understand what you seek to achieve from the agreement
2. Outlining the potential implications for you, each business partner and the company from the proposed agreement
3. Drafting your initial agreement
4. Making any adjustments to the agreement to cover any risks and input from other partners
5. Finalising the agreement, ready to be signed

Depending on your matter, a typical reviewing of a partnership agreement will involve:

1. An initial consultation to understand what your understanding of the agreement is and the context in which it was made
2. Outlining the potential implications for you in the agreement
3. Advice on any undesirable terms and conditions in the agreement on your behalf.
4. Re-drafting any particularly onerous clauses within the contract