If you are thinking of going into business, one of the first things you must consider is deciding on the most effective structure in which to conduct your business. A partnership is one of several structures you may use.
Partnership law in Australia is governed by The Partnership Act. The Act defines a partnership as “the relation between people carrying on business in common with a view of profit, and includes an incorporated limited partnership.” This is a contractual relationship which imposes rights and obligations on all parties to the contract. While a partnership can be very rewarding and profitable, as with all contracts, it is important to fully understand the implications and responsibilities that attach to the partnership before entering into one.
BigLaw is highly experienced in this area and can advise you on any partnership you are considering, or are already involved in. We provide full and comprehensive advice on which structure is best suited to your business needs. Our aim is to help you fully understand your rights and responsibilities and to ensure your partnership operates in the most effective way possible for you and your business partners to succeed.