Partnership law is utilized where two or more people or businesses carry on business together with a view to making a profit. The Partnership Act 1890 governs this area of law in the Republic of Ireland. The Act implies standard terms into every partnership unless the parties agree otherwise. These implied terms are somewhat outdated for modern businesses and so it is vital that partners consult a Solicitor to draw up a tailored written partnership agreement with terms appropriate for a contemporary business.
Partnership agreements can be cover an array of issues, therefore it is important that you contact a legal advisor to ensure your agreement includes the fundamental provisions suitable for your partnership. A typical partnership agreement may include:
Types of Partnerships and Partners
- Capacity of Partners
- Implications of Business Name of Partnership
- Financial Rights and Duties of Partners
- Partnership Property
- Relations between Partners and Third Parties
- Litigation involving Partnerships
- Dissolution of Partnership
- Limited liability and Investment Limited Partnerships
- Salaried Partner Agreements
If you wish to discuss any of the terms listed above, please do not hesitate to contact our office to make an appointment with one of our experienced Solicitors.