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Partnership and Limited Liability Partnership (LLP) agreements

Any business setting up or operating as a Partnership or Limited Liability Partnership (LLP) needs to ensure their governing documents and business structures are fit for purpose. In the absence of a formal Partnership Agreement, UK law will deem certain terms to apply to the relationship whether or not the partners are aware of these or have agreed to them.

In recent years, the LLP structure has become increasingly popular as it offers many of the features of a conventional partnership combined with the reduced personal responsibility for (e.g.) business debts and other liabilities that come with a limited company structure.

Where our clients need further specialist advice we can recommend, and collaborate closely with, other advisers such as accountants or tax specialists. This ensures that our clients’ agreements are set up from the outset to be both legally effective and tax efficient.

We provide clear and thoughtful drafting to minimise the chance of subsequent partnership disputes and ensure that your partnership agreement is properly recorded.   Our highly experienced, specialist solicitors offer expert advice on:

  • LLPs
  • Partners’ duties and responsibilities
  • Partnership agreements
  • Partner disputes
  • Dissolution of partnerships
  • Partnership formation.

 

Examples of our work:

We helped our client, a local partnership of chartered accountants, to acquire a specialist firm which offered VAT advice.  The transaction involved the drafting of the partnership acquisition agreement, which incorporated earn-out consideration provisions for principals in the acquired tax business. 

We helped our client, an information security business, to review and update its LLP agreement following the sale of one of its business unit.  We helped to prepare the usual business transfer documentation and to redraft the existing LLP agreement to ensure it remained fit-for-purpose.

 

Related Services:

Company formation Commercial contracts  Shareholder agreements  

Employee share option schemes Buying, selling or restructuring

Intellectual property

Rina Sond

Partner specialising in Company Commercial and Intellectual Property

Agata Rumbelow

Senior Solicitor specialising in Company & Commercial

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Rina is an outstanding lawyer with the ability to calmly guide the client through difficult and stressful legal situations with proven results. I have engaged the professional services of Rina on a number of occasions as a business owner, and Rina and her team have always delivered, providing an excellent service. She is tactfully astute and a great communicator, and she has an outstanding ability to understand the technicalities of issues and communicates in a clear and precise manner
  • Senior Executive, global technology logistics
  • About: Rina Sond
Rina has been extremely helpful in advising our company on key commercial contracts with both clients and partners. Her knowledge and expertise have enabled us to clearly understand the risks and benefits attached to the contractual agreements we are entering into. Her excellent professional manner has meant that she has been able to engage directly with our clients and their lawyers as an extension to our organisation. We would highly recommend Rina in all aspects related to commercial contracts
  • Director, software technology
  • About: Rina Sond
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