Business partnerships often start out with high hopes and a common vision and can end up in the courts with arguments over assets. To avoid the expense and stress of a business relationship break up – sign shareholder or partnership agreements. It is like a business pre-nup where you and your partner(s) agree at the outset about the nature of your relationship and what will happen if either of you disagree or decide you want to leave.
Having an agreement in place from the outset is a must. If there’s no written agreement outlining specific arrangements, all partners are legally equally responsible for decisions made on behalf of the business. This results in all partners sharing profits, but also losses equally.
Our team will ensure your agreement covers such things as:
While a partnership agreement won’t cover you against all eventualities, it will go a long way to saving you time and money in the case of a disagreement or the end of the relationship.
The team at FC Lawyers have acted for business clients for many years and prepared hundreds of shareholders agreements and partnership agreements. It is important to have the experience of a lawyer who has expertise in this area of law to assist in the preparation of the appropriate agreements.
Contact our team today to discuss your shareholder and partnership agreements needs.
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