Partnership Agreement

Starting a business with another person can be a great thing. A correct partnership can give your business another member who is smart, dedicated, and able to contribute great ideas to help you grow your firm. One of the most important things to do in your business, though, especially when working with another person, is to make sure to register your enterprise correctly, to find what is most beneficial for you, your partner, and your firm. Sterling Law has years of experience in all forms of corporate law, and we can specifically help you with registering a partnership, and working out if a partnership is right for you.

Why a partnership?

  • Partnerships are great if 2 or more people are working closely together, and want to share responsibility for the business
  • A partnership is not its own legal identity – all legal aspects of the business go to you and your partner, simplifying administration
  • Collective work and effort is a large part of a partnership
  • You are all equally in charge

Downsides of a simple partnership

  • Because you all share responsibility, the mistakes of one person may affect the entire company, including you
  • You are all equal in the firm, meaning that your entitlement to profits does not necessarily reflect the amount of work you do
  • Disputes may arise with no simple way to resolve them

Sterling Law’s role

  • Sterling Law can help you avoid these downsides by writing a comprehensive and legally binding partnership agreement. These agreements set out the roles of each person in the partnership, what is expected of them and how much they are entitled to, and much more
  • We know that partnerships may not last forever. This is why, when writing a partnership agreement for you, we can include clauses that deal with events such as dissolution, or dispute resolution.
  • With our help, you can get all the advantages of a partnership and avoid some of the unfortunate problems that come with one


We can help with both reviewing and amending an existing agreement and drafting a new one. To get a quote, simply click here.

Why Sterling Law

We are a modern and innovative boutique law firm with a flexible «can-do» approach. Our cross-domain specialisation allows for seamless solutions whether you are a business or an individual, allowing us to solve most complex problems, where several areas of law are involved.

Commercial Law Commercial Law

Sterling Law represent businesses and individuals in commercial matters including disputes and drafting agreements relating to:

  • Commercial Contracts
  • Incorporation of Businesses
  • Agency or Franchising
  • Directors’ Duties and Disqualification
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Company Law or Insolvency Company Law or Insolvency

What are the dangers of insolvency?

  • Your company may still owe money to creditors. You still have to pay this back, even if your company is insolvent
  • You, as a director, can be sued if you continued to trade after the company went insolvent, and lose your personal assets
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Commercial Contracts Commercial Contracts

Signing a contract with another firm is often a significant step in the growth of your company, especially if it is your first big contract. In the excitement, however, it’s possible to forget that an airtight, well-designed commercial contract is one of the most important things to do. Sterling Law has years of experience in commercial contract law, and we’re happy to help at every stage of your business’s development.

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