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Despite the existence of limited companies for decades, and more recently limited liability partnerships, which are more akin to companies than partnerships, people still operate partnerships, even though it exposes each partner to unlimited liability. The benefits are financial secrecy, and a better tax treatment.
Disputes between partners can be notoriously difficult to resolve, being akin to divorce, with partnerships being based on legislation from the late 19th century.
We act for partners to help split the relationship, and consider such issues as restrictive covenants, tax, ownership of clients and IP.
Managing Partner and Head of Dispute Resolution
Partner, Dispute Resolution
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