As a business owner in partnership with others, you probably took great care to consider the key issues and agree a carefully worded partnership agreement at the formation of your business. But once signed, has this important document been filed away under lock and key without a great deal of attention since then? There are…
Background Running a business through a traditional partnership has many advantages, including the ability to keep financial information confidential, less onerous compliance with statutory rules for companies, and transparent tax treatment where partners are only taxed on the profits they receive, not on the overall profits generated by the business. However, one of the biggest…
Recent developments in partnership law may have given those contemplating a team move pause for thought. Andrew Cromby and Alice Galler of Bracher Rawlins consider the impact of the decision in Jeremy Hosking v Marathon Asset Management LLP [2016] EWHC 2418 (Ch). If any one thing can be said to underpin the relationship between partners, it is…
An article by Bracher Rawlins partner Andrew Cromby has been published in the Solicitors Journal. In Brexit: Negotiating another partnership dispute, Andrew considers the parallels between the UK’s departure from the EU and bitter partnership exits faced by law firms. “Partnership exits can be particularly problematic where the departing partner is a longstanding, full equity…