General Partnership

Strategic business partnerships and joint ventures.

Legal representation for the advancement of your business pursuits.

Neufeld Legal P.C.

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Main

Legal Counsel

Business Partnerships

The Agreement

No Agreement / Generic

Custom Agreement

Primary Components

Partnership Buy-Out

Selling Your Stake

Partner Forced Out

Buying Out Partners

Buying Into Partnership

Partnership Dispute

Partnership Breakdown

Delusional Partners

Disrespected Partners

Death / Terminally Ill

Misappropriating Opportunity

Valuation Disputes

Dissolution of Partnership

Forms of Partnership

General Partnership

Limited Partnership

Limited Liability Ptp (LLP)

Extra-Provincial Ptp.

Joint Ventures

 

GENERAL PARTNERSHIPS - LEGAL COUNSEL

A general partnership merely requires that there be a "relationship that subsists between persons carrying on a business in common with a view to profit." [definitions, Partnership Act (Alberta) R.S.A. 2000, c. P-3, comparable to definition in the Partnership Act (Ontario) R.S.O. 1990, c. P.5] As such, for all intensive purposes, partnerships can arise quite easily, and the law will recognize them as such, unless the participants specifically choose to formalize an alternate legal construct through which they will carry forth their business pursuits. Without structure, the default structure is that of a partnership, which invariably benefits from the formalization of the partnership structure with a well-devised legal agreement.

Nevertheless, establishing structure is important to every business enterprise, whether it is a partnership or otherwise. As such, it makes a lot of sense to establish a clear structure for your business partnership and set it forth in a written partnership agreement. By negotiating and drafting a contract that deals with everything from partner contributions to operations and obligations to exit strategies, the partners will be capable of pursuing the business in a far more meaningful and confident manner. For with a well-devised framework, there is a clear plan of action and a means through which problems and disputes can be resolved. The value of a partnership agreement cannot be understated, given its ever greater importance in the years to come, as things change and develop..

For legal counsel as to your business partnership or joint venture, contact lawyer Christopher Neufeld with Neufeld Legal Professional Corporation at Chris@NeufeldLegal.com or 403-400-4092 (Calgary, Alberta) 416-887-9702 (Toronto, Ontario). 

   

Neufeld Legal Professional Corporation is a Canadian law firm operating out of Calgary, Alberta and Toronto, Ontario, and is focused on corporate transactional matters that impact local, national and international businesses in their quests for corporate success.

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