Partnerships continue to be the preferred business structure for many businesses. Making sure that the structure is appropriately tailored to both the needs of the business and the partners themselves requires careful planning.
Our experienced team advises on all aspects of partnership law including:
- the creation and structuring of partnerships, LLP's and Limited Partnerships;
- admission of new partners;
- the death or retirement of partners;
- the dissolution of partnerships;
- Partnership disputes
Many partnerships either:
- Operate without the benefit of a written partnership agreement; or
- Operate under an outdated partnership agreement which no longer reflects the fact that the business and its partners has evolved into something altogether more complex.
We provide cross sector advice to a wide range of partnership businesses including:
- Conversion of leading UK law firm from a partnership structure to a Limited Liability Structure
- Advising a sole trader upon the creation of a new partnership to bring the next generation into an existing business
- Advising the owners of a large agricultural estate with diversified enterprises on the mitigation of inheritance tax through the creation of a farming partnership. The new partnership maximises the availability of business property relief and provides for a tax efficient succession strategy.
- Representing a partner in High Court proceedings concerning the interpretation of a partnership agreement and the valuation of partnership assets.