Securing your interests through a partnership agreement
‘You can’t always see eye to eye with others, which is why your interests need to be protected by a well drafted partnership agreement’
As a partner, you’ve no protection if the business runs into trouble. That’s why you should think about protecting yourself with a partnership agreement. We can make sure it reflects not only your wishes, but also those of your partners and the business.
Would an LLP conversion be better for you?
We can advise you on a partnership agreement for a traditional partnership. However, if you’d rather not expose yourself to unlimited liability, a limited liability partnership (LLP) may be a more appropriate structure for you.
An LLP is flexible, like a traditional partnership, but also offers the benefit of reducing your financial responsibility as a partner. Many partnerships have realised the benefits of LLP conversion.
We can provide detailed guidance to identify the advantages and risks associated with the type of partnership you require. We can also tailor the partnership agreement to meet your needs, and your area of operation and practice.
“What the team is known for: Acts for a range of clients including large owner-managed businesses and public listed companies in corporate reorganisations, sales and a variety of other corporate and private equity backed transactions. Strengths (Quotes mainly from clients): “The firm has carved out a unique position in its local markets by providing a truly client-focused service, giving clients direct access to experienced professionals and at a reasonable cost.” “Everyone we deal with at Royds Withy King is very approachable and friendly, and we are very happy that they make sure to take the trouble to fully understand our objectives.” Work highlights: Advised the owners and shareholders of Prob-Solve Group on the sale of the company to Exquip Network Services. Acted for Socomec SA on the £22 million merger of the group’s UK subsidiaries Socomec and Socomec Sicon. Notable practitioners: Katharine Mortimer (Band 3) focuses her practice on MBOs and restructuring matters for clients in the healthcare sector. Clients describe her as “detail-conscious and meticulous in her approach to transactions, with a thorough understanding of corporate law principles.”” Chambers 2017 South West
“Associate Rishi Ladwa (Associate to watch) of Royds Withy King has “a commercial and corporate knowledge and personable approach that makes him a pleasure to deal with,” according to clients. He is known for his strong corporate transactional practice.” Chambers 2017 Thames Valley
“Clients of Royds Withy King praise its ‘effective, one-team approach’, ‘understanding of client’s requirements and objectives’, and ‘tailored solutions’. David Cavaliero leads the team, which acts for owner-managed businesses, and public and private equity owned companies. It is particularly strong in handling transactions between £2m and £15m.” Legal 500 2016 South West