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Why do I need a Partnership Agreement?
In a partnership business structure, it’s important that you and your partners formalise the terms of the partnership in writing. A Partnership Agreement covers important matters like how partnership decisions are made, how disputes are handled and what happens when a partner leaves.
A Partnership Agreement tailored to the needs of your business
Phone consultations with our expert lawyers
A Partnership Agreement is an important document for helping you and your partners formalise the terms of your partnership in writing. It covers important matters like how your business decisions are made, how disputes are handled and what happens when a partner leaves.
Even if you’re in business with friends or family, having these ground rules is always healthy for the relationship and the business, especially as your business grows and the stakes become higher.
Some key things to think about are:
Putting together a Partnership Agreement can seem like a daunting process, as it’s difficult to determine which matters to include and how to cover all key risks. It’s a good idea to invest in a lawyer to assist you with this process, as it can save you from disputes and liability in the long run.
Read more here.
Limited liability partnerships allow two or more partners to work together without the burden of complete responsibility for any other partner’s actions. In other words, some partners can benefit from limited liability, meaning they won’t be personally responsible for the business’ debts.
Read more here.
We have a range of fixed fee Partnership Agreement packages, beginning from $1400 + GST. These include a Partnership Agreement drafted to meet your business’ needs, phone consultations with a Sprintlaw lawyer and a complimentary amendment to the draft we provide you.
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