Partnerships & LLPs

Partnerships

With partnerships being capable of coming into existence without any specific intention, it is important to ensure that you are compliant with the various regulatory provisions which govern unincorporated enterprises. It is also essential that you have a partnership agreement in place, as relying on the default provisions provided by statute is dangerous for the partnership's continued existence and unlikely to reflect the intentions of the partners as to how the partnership is to operate in practice.

Herrington Carmichael has a team of lawyers experienced in partnership matters who are able to give practical, commercially-orientated advice on all areas of partnership law to assist you in navigating the myriad of legal issues and uncertainties which face you and your fellow partners.

In addition to advising on all areas of the Partnership Act and its practical implications for your business, our team's extensive knowledge includes advice in connection with:

  • Partnership agreements;
  • Partner exit strategies;
  • Partnership disputes;
  • Dissolution of partnerships;
  • Conversion to a limited entity
     

Limited Liability Partnerships (LLPS)

Recent years have seen a rise in the number of Limited Liability Partnerships coming into fruition throughout the business community due to the flexible management and personal tax position, combined with the concept of limited liability partners.

Herrington Carmichael's corporate and commercial team have wide-ranging experience in dealing with Limited Liability Partnerships and regularly advise businesses about their suitability for this business model, together with providing assistance to existing LLPs in relation to their constitutional documentation.

Herrington Carmichael are able to provide practical advice on your LLP's own, distinct legal and compliance obligations which arise in exchange for the security of limited liability. In addition, our experienced team is well accustomed to advising on and drafting LLP agreements and providing advice and documentation in connection with partner exits and admissions, disputes and winding-up and dissolution.

For details of recent projects, please see our Review of Business 2014

For specialist legal advice please contact:
Yavan Brar on 01189 899713 or by email at yavan.brar@herrington-carmichael.com
Alex Canham on 01189 899717 or by email at alex.canham@herrington-carmichael.com

 

The Legal 500 Our corporate and commercial team is delighted to have been recognised in this year's edition of the UK Legal 500 as a leading advisor in the Thames Valley corporate and commercial legal markets
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