Partnership

Expertise

We have a wealth of experience in all of the following areas:

Partnership Structures
Any partnership or LLP, whether newly-formed or existing, should have a well-drawn partnership or members’ agreement setting out the rights and obligations of the partners/members, its governance and remuneration structures and many other issues.  Our experience enables us to explain the options, provide guidance and prepare such agreements quickly and cost effectively.

Partnership Transactions
During its life a partnership may be involved in many different transactions – conversion to LLP, mergers, de-mergers, even dissolution.  All of our partnership transactional lawyers are also experts in corporate law and are accordingly well-placed to handle such transactions, which often involve business transfers.  International mergers are a particular area in which we have a wealth of experience.

Team Moves, Lateral Hires, Partner Departures
Team moves require careful planning.  It is easy to breach duties to an existing firm inadvertently.  We have assisted firms to recruit teams of both partners and employees and have advised teams looking to find a new firm.  Lateral hires joining a new firm need advice on their continuing obligations to their old firm and the terms of the partnership/members’ agreement they are about to sign and the offers of partnership made to them.  Firms also often seek advice when requiring partners to leave and partners when being required to leave.   We have advised in hundreds of these situations, the objective always being to avoid acrimony by settling matters commercially.  We handle negotiations sensitively and discreetly.

International
We have a great deal of experience in helping overseas, particularly US, law and other professional service firms to establish themselves in the UK.  We believe we are the leading adviser of overseas law firms on a wide range of issues affecting their London  offices and that our partnership team remains the first port of call for firms considering expansion into London.  We are also well known for our expertise in international mergers.

Regulatory
This is an area where it is easy to get into trouble inadvertently.  We advise many firms on compliance with the professional regulations by which they are governed, particularly at times of restructuring or change. 

Age Discrimination
The age discrimination legislation has brought many headaches for professional service firm management.  We offer practical guidance through the minefield which can result in awards of unlimited damages against a firm.

Partnership Litigation
Common areas of disagreement within firms include breaches of duty, restrictive covenants, garden leave and dissolution.  Partnership litigation is time-consuming, stressful and expensive.  Our practical experience and negotiations skills often help clients to avoid having to resort to the courts.  However, when there is no alternative, we will use our many years of experience in arbitration and High Court work to deliver the results.  We have conducted arbitrations and acted for firms and individual partners making and defending injunction applications. We also offer  advice on mediation and other methods of alternative dispute resolution.

Developments in Partnership Law
Clients seek our expertise on the opportunities presented by the Legal Services Act 2007.  The Act is set to transform the UK legal landscape, creating opportunities for partnerships to seek investment through flotations or private sources and to create alternative business structures with third party ownership.  Multi-disciplinary partnerships are only a year away.  If you would like to find out how the Act could affect your business please contact any member of our partnership law group.