Partnership Disputes
Overview
Disputes can arise when partners want to change the strategic direction of the business, or a when a partnership is looking to recruit, expel, or retire a partner. Disputes can be more common when there is not a formal partnership agreement in place.
Partnership disputes can be complex and costly, both emotionally and financially. Obtaining specialist advice at an early stage is crucial to understand your rights and obligations. This can be extremely valuable to resolve disputes quickly and minimise disruption to the business. Whether your partnership is governed by a written agreement or not, experienced representation can help you to prevent a dispute from escalating.
Partnerships with Written Agreements
A partnership which is governed by a binding agreement will typically outlines partners’ duties and obligations, professional standards and governance, financing and profit-sharing arrangements as well as management structures and procedures. Disagreements typically arise over the interpretation or application of the partnership agreement; it will therefore likely set out the dispute resolution processes to be followed should a dispute arise.
Partnership at Will
A partnership can also arise inadvertently. A partnership without a formal agreement is governed by the terms of the Partnership Act 1890. Significantly, just as there are no provisions to expel or recruit a new partner under a partnership at will, there are also no dispute resolution procedures to follow. In such partnerships it is crucial that you receive specialist legal advice at an early stage.
How Can We Help?
Our solicitors are highly experienced in the complex legal framework governing partnership disputes, acting for both claimants and defendants. Whether you are concerned about management structure, profit sharing or misuse of partnership time, they deal with a wide range of disputes across a range of sectors and practice areas.
Some of the ways in which we can assist you include:
- Advising on whether a partnership exists;
- Advising on the interpretation/terms of a partnership agreements or default rules under the Partnership Act;
- Advising on the dissolution and termination of a partnership;
- Advising on the suspension, removal or retirement of a partner, including unfair dismissal and constructive unfair dismissal claims;
- Claims relating to discrimination against a partner;
- Claims relating to partition and division of partnership assets and property;
- Claims relating to breaches of fiduciary duty and misuse of partnership assets.
Why Choose Taylor Hampton?
Our solicitors are highly experienced in managing all types of partnership disputes. We strive to provide our clients with clear, tailored advice about their rights under a partnership agreement or, where no agreement exists, under the Partnership Act 1890.
Our solicitors understand that partnership disputes can lead to damaging and costly outcomes. We are committed to protecting your personal and corporate interests, helping you devise a plan to minimise the financial and emotional impact of any partnership dispute.
Whether the dispute relates to a breach of obligation under a partnership agreement or a breach of fiduciary duty under the Partnership Act, we will provide you with clear and commercially minded advice. It is our aim to act swiftly and effectively to understand the nature of your business, the market in which you operate, and the parts of the business potentially threatened by the dispute. We will work with you to maintain business relationships by negotiating sensible and cost-effective resolutions. Where it is necessary, we will help you to seek appropriate remedies through the courts, including damages, account of profits and injunctive relief.
Contact Us Today
If you are in a partnership and a dispute — or the possibility of one — arises, please contact Taylor Hampton today to find out how our solicitors can help you.
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