A partnership agreement is relevant for you who have established or must establish a partnership. You can read more about partnerships here. In connection with the establishment of your I/S, it will be advantageous to have a partnership agreement drawn up. If you have already established a partnership, you can still draw up an agreement as it is never too late, not legally anyway.
What is a partnership agreement?
A partnership agreement will create the framework for your collaboration. It can be said that an I/S-contract will act as your ownership agreement. The contract will form the basis for your cooperation, and thus you will be able to refer to it if a dispute should arise. In addition, a partnership contract will give you an overview of your cooperation and the agreement on the actual operation of your joint company. Since an I/S is a personal form of business, you are personally, unlimitedly and jointly liable. This means that the company’s creditors have the opportunity to pursue their claims by going after the stakeholders personally.
What will it mean for you?
if one stakeholder has incurred liability on the I/S. How do you and the other stakeholders stand?
What if one of you goes personally bankrupt?
A partnership agreement will be able to regulate such issues and potential disputes.
What should you consider having regulated in your partnership agreement?
According to our experts, there are at least 27 issues that you should consider having regulated in a partnership agreement. It can therefore seem quite overwhelming to get started. You must, for example, consider the choice of law and legal venue for your partnership and disputes that might arise. In addition, you must consider the guidelines for withdrawal of funds and payment of the realized deficits.
Let Advokatgruppen’s lawyers advise you.
Since 1987 Advokatgruppen has drawn up partnership agreements for our clients, with great success. Our lawyers are specialists in company law and have extensive experience in the field. We have lawyers in Horsens, Aarhus and Fredericia. So do not hesitate to call us on +45 70 10 13 30. You will get a friendly lawyer on the phone, and with us the first conversation is free.