GREGORY ABRAMS DAVIDSON SOLICITORS
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Partnership Agreements Disputes Lawyers in Liverpool & North West London
Partnerships can exist either by a formal partnership agreement or sometimes inadvertently. The Partnership Act 1890 defines a partnership as a group of individuals who carry on in business together with a view to making a profit. Therefore, there does not need to be a formal agreement for a partnership to exist although it is wise to have one.
If a partnership has arisen either inadvertently; simply by a group working together with a view to making a profit or by a group knowingly entering into a partnership but without a formal written agreement, then the rules on how a partnership is run and how disputes are dealt with is governed by The Partnership Act 1890.
It is important to obtain advise before entering into a partnership and it is always advisable to have an agreement drafted to tailor the terms to suit the partners as oppose to relying on the Partnership Act. Each partnership is unique and has its own distinct requirements and we can help talk you through the process and draft an agreement to suit your needs.
If you are already in a partnership and a dispute has arisen please call our team for advice. We would be happy to discuss your options and provide clear advice on the best way to achieve an outcome that is right for you.
