A partnership is the relation which subsists between persons carrying on a business in common with a view of profit. A partnership includes an incorporated limited partnership.
Partnerships are regulated by the document governing the relationship between the parties, or Commonwealth, State/Territory legislation including the Partnership Act 1891 (Qld).
For various reasons, partners can end up in disagreement with one another. The best way to ensure that disagreements do not deteriorate into partnership disputes is to ensure a properly drafted partnership agreement is executed at the commencement of the partnership.
At Marino Law, we are able to draft partnership agreements that clearly enunciate the obligations and the rights of the parties to a partnership. We prepare agreements that protect the fabric of the partnership and provide clear responsibility demarcation and KPI`s, all of which are designed to minimize discord and misunderstanding. We are all well versed in designing exit clauses and dispute resolution clauses that assist with the peaceful and professional dissolution of partnership if and when this eventuates.
In the unfortunate event that a dispute arises, our lawyers are able to facilitate:
- negotiations between the partners with a view to an expeditious, cost effect and amicable resolution
- mediation and /or alternate dispute resolution (“ADR”)
- the appointment of a receiver and manager
- the issuance of court proceedings
Our team of experienced litigation and dispute resolution lawyers and accredited mediators can help you institute proceedings to seek the orders you require in the event the matter can’t be resolved.