Creating Partnership Agreements That Establish Expectations And Roles
Profitable business partnerships rely on more than a handshake and a shared vision in order to endure. Detailed partnership agreements establish the foundation for general partnerships, limited partnerships and limited liability partnerships (LLP). A well-written contract delineates each partner’s role, clarifying expectations and obligations.
For over 20 years, Briskin, Cross & Sanford, LLC, has tailored strong partnership agreements for startups and revised agreements for developing and mature entities throughout the greater Atlanta metro. Our transactional attorneys have extensive experience with all elements of business organization. Having represented clients operating in a broad range of industries, we are equipped to identify the most effective approach for your needs.
Taking A Proactive Approach To Limit Disputes
When you work with our legal team, we will customize a contract that identifies the partnership structure and clarifies each partner’s responsibilities and rights. It is our goal that your agreement anticipates potential friction points that may arise in the future and avoids ambiguities that can lead to complicated disputes.
We design partnership agreements that address a variety of concerns, such as:
- What each partner will contribute to the entity, which could include services, cash, assets or property
- What percentage of ownership each partner will hold
- How profits and losses will be divided among partners
- What authority each partner will be given to sign contracts on behalf of the business and other decision-making rights
- How daily operating tasks will be divided among partners
Should you need to amend provisions in your contract, you can rely on our lawyers to revise problematic terms promptly. We have helped our clients take the appropriate steps to add new partners or handle a partner’s departure due to death or disability. We structure partnerships and contracts to protect your interests in the event of a dissolution.
Whether you need advice on establishing your first partnership agreement or modifying an existing contract, we are ready to assist you with this task.