Many business partners operate their businesses under ‘Partnerships at Will’ under the Partnership Act 1890, without having any form of Partnership Agreement at all.
Future partnership disputes can very often be avoided or alternatively limited in their nature if the partners have taken the time and care to set out the detailed terms of their business relationship in a formal Partnership Agreement.
If you do not have a Partnership Agreement with your business partners then you should really think about getting one in place.
All good Partnership Agreements should contain detailed provisions relating to partnership duties and responsibilities, for partnership exit and retirement, setting out appropriate provisions relating to allocation of capital and profits, together with appropriate conditions and restrictions regarding any future competition with the business.
If you are having problems with a business partner we have vast experience in resolving such difficulties by negotiations and discussion.
In cases where a partner is in serious breach of his partnership duties and obligations we have extensive experience in taking Chancery proceedings in the High Court of Justice under the Partnership Act 1890 in order to secure the best and most appropriate remedy for the remaining and continuing partners.
We are always content to have an initial free no obligation discussion with you about your problem in order to make sure that we select the right and most appropriate solution for your needs and the needs of your continuing business.
We recognise that the continuing successful functioning of the business is of paramount importance to its continuing partners and always strive to achieve that goal wherever possible.
Richard Hirst has over 30 years experience in legal practice and specialises in dealing with partnership disputes. Richard is instructed frequently by business partners seeking to resolve their disputes from all over the UK.
Please feel free to email Richard at firstname.lastname@example.org or alternatively contact him at our Lancaster location.