Joint Ventures & Parterships
Working with others
How do our two businesses work together?
There are two main ways that organisations can work together – through partnerships or via a joint venture. Deciding which would be best for you depends on how you currently do business, what both parties are putting into the relationship, how long the project is likely to last and what happens at the end. We can come alongside you to help determine the best vehicle and draft the supporting documentation.
We need a partnership agreement
It’s important for partners to have a partnership agreement in place. Without one your partnership is governed by law from the 1800s which might not suit what you want to achieve. Like a shareholders agreement for a company, it is like a pre-nuptial agreement – it sets out what should happen if things go wrong. It also sets out how decisions are made, how the partnership could be expanded and developed and we can come alongside you to develop a partnership agreement that suits you.
How do I get out of my partnership?
If you have a partnership agreement, this should set out a default exit strategy. If you do not have a partnership agreement then the Partnership Act 1890 will govern your exit strategy but this might not be what you want. We can come alongside you to help either implement or negotiate an exit strategy and advise you on your end position.