Partnership Agreements & Disputes
Whilst most firms will have a partnership or shareholders agreement in place, we often find that they are not up to date and truly reflective of how the Partners or Directors manage their relationship.
It may come as a surprise how many firms operate with an outdated or irrelevant document that has not kept pace with the evolving nature of the firm itself, and the document has then become almost redundant.
Keeping a partnership or shareholders’ agreement up to date is essential for effective management of the relationship between Partners, Directors or Shareholders. The roles, responsibilities, and requirements of each must be kept up to date and reflect the requirements of the firm and the individuals.
We can assist with drafting and agreeing on new partnership and shareholder agreements, reviewing, and renewing existing agreements, and dealing with addressing Partner or Director disputes.
The implementation and maintenance of an agreed and effective partnership or shareholder agreement is not just a regulatory requirement, but it can and will solve potential problems in the future in a more efficient and effective way.
Law Firm Compliance
Whether you are an existing firm or a new firm, the negotiation and drafting of a Partnership/Shareholders agreement are essential to ensure that the relationship between the owners is clear and protects all parties.
The generation of an agreement to regulate the relationship of the Partners/Directors is not just a regulatory requirement but is also a fundamental element of managing the firm.
Partnership and Shareholders agreements, if drafted, can often be forgotten about and over time, the agreements do not reflect the reality of the relationships between the owners. Updating these Agreements on a regular basis is important to avoid issues from arising in the future. A Partnership or Shareholders Agreement must keep pace with the changing nature of the firm.
Finalising and updating of these Agreements is an essential step in the event of a dispute between the Partners or Directors. A well-written and clear agreement will ensure that any dispute is resolved quickly and without incurring significant expense or time.
If it has been a while since your Partnership or Shareholders Agreement has been reviewed or updated, The Strategic Partner will work with the firm and its owners to ensure the Agreement is brought up to date and accurately represents the relationship between and responsibilities of the Partners or Directors.
Our services include:
- Drafting and Agreeing on new Partnership and Shareholder Agreements.
- Updating existing Partnership and Shareholder Agreements.
- Management of Partner/Member and Director/Shareholder disputes.
In the event your firm is facing a dispute or potential dispute between the Partners or Directors, the quicker this is addressed the better for all concerned. Through active intervention, The Strategic Partner will work with those in dispute to seek a resolution without the need for litigation or damage being caused to the firm.
A dispute can cause immense personal pressure and stress, which in turn can impact the firm, its staff and potentially, its clients. Addressing the cause of the dispute and finding an early resolution will be in everyone’s best interests. If that cannot be achieved between those in the dispute or by others in the firm, The Strategic Partner will work with all involved to secure a resolution wherever possible.