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Protect your interests with a professional partnership agreement
Frequently Asked Questions
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3 Must-Have Provisions We Include in Partnership Agreements
In any relationship, conflicts are unavoidable. Misunderstandings will occur whether in friendships, work relationships or marriage.
Unfortunately, a minor issue, when mishandled, can result in complicated disputes. In a worst-case scenario, these conflicts can attract costly lawsuits. You can use partnership agreements to avoid such cases in a business relationship.
Legal Matters Made Simple is filling the knowledge gap in writing business partnership agreement in the United Kingdom. We can write an agreement that clearly outlines your obligations and rights. So, your company won’t have problems likely to break the partnership or make it dysfunctional. Here are the vital provisions we must include in your partnership agreement.
Experience has taught us that partners’ capital, resources, and time contribution to the business differs in every partnership. We have noticed some partners provide the capital while others offer managerial and operation expertise.
Irrespective of your unique situation, we will include the specific contributions in the written partnership agreement UK. We will
include terms and conditions addressing the expected contributions required from each partner until the business become profitable. That will ensure every individual plays their role without causing conflicts.
Decision-Making Powers and the Authority of Partners
We know that each partner is interested in the company’s success. The interest gives every partner the authority to sign agreements and make a decision on behalf of the business. To secure a smooth business operation, we always allocate powers and responsibilities in the business partnership contract UK. This clause will prevent confusion and protect every partner’s interest. It will force them to find a mechanism for making vital decisions for the company.
It is wise to expect disputes in every partnership. However, it might become difficult to solve conflicts in business relationships. We always include dispute resolution options in these agreements to prevent the parties from filing lawsuits. We prefer arbitration and mediation as suitable dispute resolution methods. With clients acceptance, we always include this clause in partnership agreements.