Partnership Agreement Lawyer in Abbotsford
Clear terms between business partners, in writing.
A partnership can begin with nothing more than two people carrying on business together, and that is exactly the danger: without a written agreement, BC’s Partnership Act supplies the terms, and its defaults surprise most partners. Jon prepares partnership agreements for businesses across Abbotsford and the Fraser Valley.
How Jon Helps
Jon drafts agreements that settle the questions every partnership eventually faces: how profits and losses are shared, who decides what, how much time and money each partner contributes, how a partner exits and what their interest is worth, what happens on death or incapacity, and how disputes get resolved. He also reviews existing arrangements and advises partners whose circumstances have changed since they started.
Where it serves the partners better, Jon will also advise on whether a partnership remains the right structure at all, or whether incorporation now makes sense.
Who This Is For
This service fits general partnerships and joint ventures in the Fraser Valley, whether being formed now or formalizing years of working together. If your business is incorporated, the equivalent document is a shareholder agreement; see Shareholder Agreements. If you are weighing partnership against incorporation, see Business Incorporations.
What Working Together Looks Like
It starts with a conversation involving the partners about how the business runs and what should happen when circumstances change. Jon turns the decisions into a clear agreement, explains every provision, and quotes fees before drafting begins.
Common Questions
We never signed anything. Are we already a partnership?
Possibly. Under BC law, carrying on business in common with a view to profit can create a partnership whether or not anything was signed, and with it, obligations most partners do not realize they have.
What do the Partnership Act defaults actually say?
Among other things: equal profit sharing regardless of contribution, every partner able to bind the partnership, and dissolution triggered by a partner’s death or departure. Most partners want different terms, which is precisely why a written agreement matters.
Can one lawyer act for all the partners?
Jon will discuss this openly at the outset. In many cases he can prepare the agreement with all partners’ instructions, with each partner free to obtain independent advice before signing. Where interests genuinely conflict, he will say so.
What does a partnership agreement cost?
It depends on the number of partners and the complexity of the arrangements. Jon quotes the work before drafting begins.