Partnership Agreement Solicitors.

A partnership agreement ensures that each partner’s rights and capital are legally protected.

An introduction to our partnership agreement services

Establishing a business partnership requires more than a handshake. Our solicitors develop comprehensive partnership agreements that define roles, responsibilities, and dispute resolution mechanisms, creating a solid legal foundation for your collaborative venture.

  • Drafting and reviewing partnership agreements
  • An outline of your legal position in your business agreement matter
  • Negotiation of terms
Kim Pons
Solicitor

FAQs

Commonly asked questions on Partnership Agreements.

1. What is a partnership agreement?

A partnership agreement, also known as a partnership contract, is a legally binding document. The agreement establishes the rights and responsibilities of each partner and how they split profits and losses.

The value of having a written partnership agreement is that it lays out all the rules, responsibilities, and financial details of a business partnership. Furthermore, the agreement reduces the possibility of any future disputes because all partners have agreed to the terms and conditions.

In the event of any disputes, it’s a simple case of referring back to the document, minimising any arguments and lengthy discussions.

2. Are partnership agreements legally binding?

All partners who have signed a partnership contract have entered into a legally binding agreement. The partnership agreement will include the roles and responsibilities of the partners. However, in most cases, a partner will be able to exit or dissolve a partnership, providing they concede with the terms agreed within the partnership agreement.

3. When should a partnership agreement be formed?

Partners will form an agreement document to give all parties precise details of their partnership. For example, this might involve their capital, their rights and obligations, and rules of engagement in the event of a dispute or dissolution.

4. How long does it take to draft or review a partnership agreement?

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.

5. How much does it cost to draft or review a partnership agreement?

Each partnership agreement case is different. Agreements that include multiple partners/businesses, or agreements that require several layers of protection and dispute resolution for partners, will typically increase costs.

After speaking with our solicitors, they will be in a position to provide a more precise estimate of how much your agreement will cost.

To contact one of our commercial solicitors, please call us on 0203 007 5500.

Meet our expert Partnership Agreement team.

Need legal advice now from a solicitor in London or Brighton?

Call, email or provide us with a few details of your matter, and we’ll help you arrange an initial consultation. You’ll get:

  • Unlimited time to discuss your matter with a solicitor.
  • An outline of your legal position and available options.
  • A clear time and fee estimate for your case.

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Established in 2020 in Brighton and Hove, we’re one of the newest and fastest-growing law firms in the South East. Our award-winning team have enabled us to grow to two locations; our head office in Hove, East Sussex, and our Mayfair office in London’s West End.

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