In this video, Malcolm Zoppi, a qualified solicitor, discusses what is a partnership. Stay tuned as we explore the advantages, disadvantages, and legal intricacies of forming a partnership.

💼 Here's what you'll learn:
The definition of a business partnership and how it's automatically created when two or more persons come together to make a profit as a small business on their entrepreneurship journey.
The importance of having a partnership agreement in place to ensure fair division of profits and debts.
The difference between a partnership and a limited company.
The three main types of partnerships: general partnership, limited partnership, and limited liability partnership (LLP), and their implications on liability.
The need for considering tax considerations and filing requirements when choosing the right type of partnership.
The potential downsides of not having a bespoke partnership agreement and why you should consider getting one drafted.
How to make a business partnership work using a legally binding partnership agreement as an entrepreneur.

MESSAGE FROM MALCOLM ZOPPI:

If you are looking for legal advice, I help UK SMEs with their corporate and commercial needs and I'd be more than happy to help.

My services include:
(1) anything to do with transferring, creating or buying back shares;
(2) amending articles of association;
(3) drafting and reviewing contracts and policies;
(4) conducting M&As; and
(5) registering trade marks.

Businesses choose me because of my:
(1) competitive, 100% fixed fees;
(2) 7 days turnaround times; and
(3) 24 hour response times.

Business trust me because:
(1) my firm has 70+ reviews, all being 5/5.
(2) I am a qualified, regulated solicitor; and
(3) I am experienced in what I do.

Contact me for a free legal advice call:
WhatsApp: +44 7480 765182
Landline: 0330 133 3815
Email: [email protected]

0:00 - Intro
0:19 - What is a partnership?
1:11 - Is a partnership the right choice for your business?
3:13 - Why have a bespoke partnership agreement?

This video is provided to you by Gaffney Zoppi. We are committed to offering you the best content that we can produce. Although, to satisfy the fast-paced YouTube demand and short watch-times, and due to the impossibility of fully understanding all of our viewers’ factual situations, the content should not be relied upon to make any decisions, take any actions or omit from acting (not an exhaustive list). This video and any of its content or related documents, including (this is not an exhaustive list) its speech, tags, linked documents, descriptions or titles (the Content) does not provide legal advice and should not be taken as such. The Content does not reflect all aspects of the law, for the purpose of brevity. The Content has been simplified and generalised by also omitting information, as to avoid lengthy and potentially boring videos. The Content may be out-dated and not suitable or relevant for all circumstances. You should seek independent legal advice.

Gaffney Zoppi is a trading name of GZ Legal Ltd, a limited company registered in Scotland with company number SC658895 and registered office address of 272 Bath Street, Glasgow