Partnership agreements
Similar to shareholder agreements, partnership or joint venture agreements are a must for parties entering into a partnership for managing or running a business.
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Partnership Agreements
Similar to shareholder agreements, partnership or joint venture agreements are a must for parties entering into a partnership for managing or running a business.
Compared to companies or trusts, partnerships are not a preferred business structure except where there is a partnership of companies or trusts (such as a joint venture). Compared to overseas jurisdictions, partnerships have inherent risks akin to a sole trader structure and do not often have limited liability.
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What Should
Agreements Include?
At a minimum, a partnership agreement should include:
- How disputes are resolved;
- What are the responsibilities of each party in the arrangement;
- Are the partners required to provide financing / labour / equity and on what terms;
- What happens if one of the parties wants to exit the business;
- How are decisions to be made and are decisions to be by majority / unanimous;
- Are parties to be restrained from competing in similar businesses;
- The number of required meetings per year;
- Financial reporting obligations;
- Consequences of partners becoming insolvent and/or incapacitated.
Our team of lawyers can guide you through the process
Why Choose Us
Boutique Firm
business solution for small and medium sized businesses
Tax & Legal All-In-One
Tax and legal at the same place! No need to see a lawyer and then explain the circumstances to your accountant separately
Business Specialists
Specialists in business law, property and tax – we deal with all tax and legal aspects of business on daily basis.
Tech Savy
Tech-savy – unlike some “old-school” solicitors – we leverage technology to provide you and your business with cost efficient services.
Business and Commercial Law
As a boutique firm – you will be dealing with the same small team of advisors-meaning you don’t speak to a new person everytime you call.
Business sale and purchases
Dedicated lawyer and accountant – our principal supervises all matters directly.
Meet Nick
Nick provides legal and tax solutions to start-up/small businesses and individuals. Quite separate to law, Nick understandsbusiness and has hands-on experience launching and running start-up organisations, including some of Australia’s first group-purchasing and consumer power platforms.
Nick is on the Board of the Crowd Funding Institute of Australia and is a Founder & Director of successful Australian crowdfunding plaform OzCrowd.com.