Partnerships

Drawing on cross-disciplinary expertise from lawyers in our employment, financial services, corporate, tax and dispute resolution groups, Dechert’s partnership team advises partnerships, limited partnerships, limited liability partnerships and individuals across the spectrum of partnership matters.

With one of the leading investment funds practices worldwide, the firm is perhaps best known for advising on limited and limited liability partnership matters in the financial services sector. This experience gives our lawyers a unique insight into the world of partnerships and LLPs ─ an experience which we bring to bear on behalf of clients in all industry sectors.

Our typical work includes:

  • The formation of LLPs and limited partnerships. Structuring and drafting member agreements, including advice on the tax implications of partnership and LLP structures.
  • Negotiating the terms of member agreements and terms of admission.
  • Re-organising and restructuring member agreements for existing LLPs, including partial spin outs.
  • Devising and drafting carry vehicles and remuneration provisions and incentivisation plans for limited partnerships and LLP members.
  • Advising on removal of members, changing member terms and making changes to member agreements.
  • Advising individual members on joining or leaving partnerships and LLPs, including team moves.
  • Advising on LLP disputes, including disputes between members and an LLP and also between members.
  • Enforcing post termination restrictions.