Partnerships
The Partnership Act 1890 which has basically remained unchanged to the present day sets out the structure of current partnership law. The Act will not cover many eventualities. If there is a dispute between Partners, in the absence of something expressed in writing determination of disputes will fall subject to the provisions of The Partnership Act 1890 which may be unsatisfactory in the circumstances.
It is always up to those who allege the existence of a partnership, in the absence of a written agreement, to prove the legal relationship prior to the court determining the issues in dispute.
This area of law provides a great deal of work for business litigation solicitors who are frequently involved in resolving disputes between those trading unincorporated who had no idea of the existence of the Partnership legislation or the effects this may have on their business relationships with each other. Partnerships should only be entered into through a formal partnership agreement. The partnership agreement should contain provision for:
- Realistic exit strategies
- Protection and preservation of the business against unfair competition
- Protection from removal of assets
We have extensive experience in handling the break up or exclusion of a partner or partners from a business. 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
We can offer advice on existing agreements and draft bespoke partnership agreements tailored specially for your business and the partner’s individual needs.
Come and talk to us at KJL Solicitors. We are conveniently located off the A47 at Blofield Chambers, The Street, Blofield, Norwich, NR13 4AA.
