Joining a partnership or LLP

Joining a partnership or LLP involves committing your time, reputation, money and client, customer and referrer relationships to that partnership or LLP.

Once you are in it may be difficult to exit quickly with your clients and (if applicable) capital. Before you join it is important to focus on the terms that will apply when you want to leave.

Those terms and the other terms that will apply while you are a partner or member, and the financial position of the business, are critically important to your future success.

In the course of my partnership and LLP work I have seen/analysed hundreds of partnership/LLP agreements. I have a highly-developed sense of what is normal and what is abnormal, and the potential consequences of any given clause for a partner or member.

Whether you are intending to join a new business as a salaried, fixed share or equity partner or member, I can assist you by scrutinising the agreement that you are asked to sign and the accounts. I can also suggest suitable amendments or clarifications to the terms that are offered to you.