Partnership Checklist

Partnership Checklist helps you focus on the decisions that need to be made when setting up a partnership. It also helps you decide which of the Simply-Docs partnership agreements is most appropriate for your arrangements.

Where there is no express agreement, the Partnership Act 1890 will apply default rules to the relationship between partners. Those defaults may not suit what the partners intend, so it is often sensible to put a written agreement in place.

What does Partnership Checklist do?

It prompts you through the key legal and commercial points that typically need to be agreed when forming a partnership, so you can identify what needs to be decided and documented.

What does Partnership Checklist cover?

It contains 36 straightforward questions covering matters such as:

• the proposed duration of the venture
• capital contributions
• drawings
• profit and loss sharing
• banking arrangements
• insurance
• holidays
• management of the business

When should you use Partnership Checklist?

Use it when you are setting up a partnership (or formalising an existing working arrangement) and want to work through the points that should be agreed before you settle and sign a partnership agreement.

What else you may need

This checklist is intended to be used alongside the relevant Simply-Docs partnership agreement, including Basic Partnership Agreement Template and Long Form Partnership Agreement.

Partnership Checklist is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.