It’s no surprise that entering a business partnership is often compared to marriage. The break up of a business can be viewed as the commercial equivalent of a divorce. You must succeed in protecting what you bring into the partnership and the wealth created by the partnership, as well has having a well planned exit route.

Partnership agreements are even more vital than pre-nuptial agreements.

Business relationships between parties require trust and confidence as well as high levels of commitment and of course loyalty. The trouble is of course that none of this should ever be taken for granted.

Partnerships should only be entered into through a formal partnership agreement. This should contain:

• Realistic exit strategies
• Protection and preservation of the business against unfair competition
• Protection from removal of assets

Partnership Termination /Dissolution

We have extensive experience in handling the break up or exclusion of a partner or partners from a firm. We can advise you of all your common law or statutory options, and how and when to exercise them.

We can help you protect your business or negotiate terms for new Partnerships if:

• A partner leaves and sets up in competition
• A partner retires
• A partner misbehaves
• A partner dies

For further information please contact us.