Partnerships

Drawing on cross-disciplinary expertise from lawyers in our corporate, employment, tax and dispute resolution practices, Teacher Stern’s partnership team advises partnerships, limited partnerships, limited liability partnerships and individuals across the full spectrum of partnership matters.

Our corporate team regularly advises on the formation and structuring of partnerships and LLPs, as well as on drafting and negotiating partnership and LLP agreements. In doing so, they work closely with members of our tax team who are usually involved at an early stage of the process to ensure that the overall partnership structure works from a tax perspective.

We frequently advise on the admission and retirement of partners, exit strategies, and the termination of partnerships. Where partnerships are wound up on an insolvent basis, our dispute resolution and insolvency teams can provide expert advice on priorities, entitlements and risks.

Our employment team has significant experience in advising partnerships and individuals alike in connection with the enforcement of restrictive covenants.

Representative Partnerships Work

Our typical partnership work includes:

Advising on the formation of LLPs and limited partnerships; including drafting and negotiating partnership agreements and LLP agreements.
Advising on the tax implications of partnership and LLP structures.
Advising on the removal of members and making changes to partnership agreements and LLP agreements.
Advising individual partners on joining or leaving partnerships and LLPs, including team moves.
Advising on partnership disputes, including disputes between members and an LLP and also between members.
Advising on partnership insolvencies and winding up.
Advising on the enforceability of post termination restrictions.