Structuring a general partnership or LLP needs careful planning and water-tight agreements to ensure that members rights and duties are clear, as well as an understanding of the tax implications and fiduciary responsibilities which are different to those of employees.
Like all businesses, issues such as protecting a firm's interests when key individuals retire or a team departs, dealing with disputes or grievances, and effectively managing mergers or joint ventures may all need to be addressed. Our highly regarded practice advises on all aspects affecting LLPs, partnerships and the individuals who work within them.
We also have an impressive track record of acting for individuals who are partners or members of LLPs who require advice on rights and liabilities of either joining or leaving a partnership. This can include negotiating or documenting an exit or giving advice on alleged misconduct, fiduciary duties, restrictive covenants, discrimination or team moves.