PARTNERSHIP LAW

Partnership  |  Joint Venture  |  Partnership Agreement  |  Partnership Buy-Out  |  Partnership Dispute  |  Forms of Partnership

Contact Neufeld Legal PC at 403-400-4092 or Chris@NeufeldLegal.com

Entering into new business markets frequently demands forming new business relationships, often through strategic partnerships or joint ventures. These legal constructs for collaboration are driven by a plan of advancement together with clear obligations and responsibilities for each of the parties to the venture. The intention is to create assurances towards the profit objectives of the partnership, such that each of the parties is confident in their expenditure of time, effort, knowledge and money will not be wasted or taken advantage of.

For that reason, the legal arrangements of the parties is pivotal to the venture's advancement, whether as a joint venture, partnership (general partnership, limited partnership, limited liability partnership) or an alternate legal agreement with respect to their collaboration (i.e., co-ownership arrangements). Given the significance of the legal agreement that should be the foundation for your strategic partnership or joint venture, the importance of experienced legal counsel cannot be understated. This is particularly evident in multi-national partnerships and joint ventures, where varying legal systems and business perspectives must be accommodated within a single legal agreement. And all the while, the ultimate business objectives of the partnership cannot be lost, but must be given the means to realize it's optimal profit potential.

Legal counsel for partnerships and joint ventures therefore must facilitate the realization of optimal profits within a legal framework that lawfully protects the business participants. This is essential to maximizing your Canadian partnerships and joint ventures, for it provides important assurances that will enable the business to move forward with confidence while limiting future infighting and breakdowns of the business relationship. For legal counsel as to your business partnership or joint venture, contact our law firm at Chris@NeufeldLegal.com or 403-400-4092 / 905-616-8864.

Why should you have a Partnership Agreement. Whenever you are looking to partner with other individuals in a business venture, it is absolutely imperative that you have a signed written agreement from the outset, whether this is a partnership agreement, joint venture agreement or unanimous shareholders agreement. Without a legally binding written agreement, the success of the business venture and the protection of your contribution towards that business venture can be subject to serious jeopardy, . . . Read more.

 

What to look for in a Business Partner. Choosing the right business partner is a critical decision that can make or break your commercial business venture. If you don't select the appropriate business partner with whom you might collaborate and attain the appropriate contribution from, you won't realize the full potential from partnering up to pursue the particular business venture. Read more.

 

Partnership Exit Strategies. Although a business partnership at its inception may only evince confidence and favorable financial projections, over time this positive perspective can all too quickly disipate, such that one or more of the partners might become disillusioned with its future and the partner's involvement therewith, such that its important to consider partnership exit strategies. Hopefully, those exit strategies have been previously set out in a written partnership agreement at the outset of the commercial venture. Read more.

Click here for further News & Insights from our law firm.