Shareholders’ agreements, partnership agreements and other considerations
One of the most important decisions to make when setting up your new business is which legal structure to choose for your business? There are so many options including LLPs, partnerships, sole proprietorships, companies, non-profits, and co-operatives; how do you know which structure is best and legally correct for your business?
Our commercial law solicitors will work closely with your accountant and financial adviser and provide the legal advice and draft suitable documents to formalise the structure of your business that you will need. Whether you wish to set up a limited company, formalise the terms of a partnership arrangement or run your business as a sole trader, we can provide sound legal advice on the factors you may wish to consider.
Setting up a new limited company. This is often the best way to run your business from a liability and risk perspective (as the company will be separate, legally, from the owners) and for tax purposes. Our commercial law team can help by drafting incorporation board minutes and forms, directors’ appointments, shareholders’ agreements and other necessary documents to effect the needs of your business.
If you do not trade as a limited company, and run your business with associates, the business will likely form a partnership.
If you are not advised properly, did you know that if a partner dies, the partnership may dissolve immediately? These laws are usually not suitable for modern partnerships, which is hardly surprising as partnership law is based on legislation dating back to the 19th century.
Therefore, it is always advisable for partners to agree a written partnership agreement to record the terms of the business relationship between them to change what the law would otherwise imply.
Our team of business solicitors are experts in drafting and reviewing partnership agreements.
If you are looking to find a local business solicitors in Kent to aid you with the legal side of things in relation to structuring your business; please do give us a call today to arrange an appointment with our commercial team.
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