As part of our corporate and employment offerings, we have extensive experience of advising Partnerships and LLPs as well as individual partners and LLP members on the non-contentious and contentious aspects of their business relationship.
From working on the conversion of partnerships and companies into LLPs to professional firm mergers, advising on team moves and litigating restrictive covenants to protect our clients' business interests, and negotiating partners and LLP members retirement terms, our resume speaks for itself.
In terms of our non-contentious partnership expertise, we have experience in advising fund management, law, accountancy, surveyor and other professional firms.
The team has the ability to provide clear-cut advice to you on the adoption of new limited liability partnership and partnership agreements, as well as revisions to existing agreements and team hires. Our offering includes advice on retirement arrangements, especially those involving deferred payments and investment fund carried interests.
We have a pre-eminent reputation for contentious partnership dispute resolution. Our team has experience in advising partnerships, LLPs, individual partners and members in the financial services, professional services and media sectors on team moves, restrictive covenants and garden leave.
The team can help you and your business reduce your partners’ notice periods as well as providing clarity around the protection of confidential information, discrimination and whistleblowing claims, managing out under-performing or misbehaving partners, partners' retirement terms and advice on becoming an equity partner.
Making high-stakes decisions and pleasing stakeholders can feel like walking a tightrope when navigating partnerships and limited liability partnerships (LLPs). If you’re balancing on the edge of uncertainty, you’ll definitely want a safety net.
Having a robust legal framework in place provides the direction and confidence to steady those involved. The right framework will prevent the process from collapsing – no disputes and no contractual breaches. Because when you’re on that tightrope, every move matters.
Whether you’re looking for transactional or regulatory support, there are four key areas where we can help you manage LLPs.
Advisory:
Partner remuneration: Tailored models from ‘black box’ to ‘open book,’ customised to your firm’s culture and ambitions
Profitability reviews: Understanding your P&L and unlocking opportunities to boost profit margins
Expansion and internationalisation: Strategic guidance on local, national, or international growth
Professional development: Nurturing talent from junior to senior levels, unlocking the future leaders of your business.
Transactional:
Business set-up: Forming firms (LLPs, partnerships, companies) with comprehensive secretarial services
Agreements: Drafting and advising on LLP, partnership, and shareholder agreements
Mergers and acquisitions: Acting on the buy or sell side on M&As, disposals, and demergers
Employment contracts: Crafting consultancy agreements and contracts for your staff at all levels
Global networks: Helping structure international firm networks and successfully steering regulatory issues
Strategic guidance: Navigating exit strategies, UK IPOs, and third-party fundraising.
Regulatory:
Financial resilience: Supporting professional firms facing financial challenges, as well as navigating regulatory pressures from the Solicitors’ Regulation Authority
Preventing regulatory action: Avoiding any unpleasant surprises with proactive compliance, contingency planning, and client protection
Support in distressed situations: Providing guidance for lenders, firms, and partners to achieve the best outcomes.
Legal risk and compliance:
Defence practice: Decades of experience handling claims and disputes, from small claims to multi-million pound disputes
Regulatory guidance: Addressing a wide range of risk issues in modern legal practice.
Your team
Your partnerships and LLPs team
Whatever aspect of your partnership or LLP you need support with, we’ve got the right legal bods at your disposal. From small claims based on conveyancing errors to multi-million-pound disputes against firms ranked at the top of their profession, you’re in the right place.
In need of a partnerships and LLPs lawyer? Look no further.
At Womble Bond Dickinson we have an exceptional team of talented lawyers and business professionals who can offer guidance and find the solutions right for your business. We have both broad and niche expertise across all our UK and US offices.
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Contact
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