Partnerships and joint ventures

Collaboration is often necessary to achieve business goals whether you operate exclusively in the public or private sector or co-operate across both sectors.  Choosing the right corporate structure can be vitally important in helping to deal with key decisions around allocation of risk and reward, finance and taxation.

Whether operating under the guise of a traditional partnership, an LLP, a Limited Partnership or a joint venture private limited company our team will be able to assist with commercial, practical and proactive advice to try to ensure that your business model is best placed to achieve its goals in an efficient and compliant manner.

Corporate and contractual joint ventures

We regularly advise on JVs connected with property ownership and development, exploitation of intellectual property, public/private initiatives, outsourcing and cross board collaboration.

Key drivers in the structure of a JV include risk allocation, mechanisms for breaking deadlock, financing, sector regulation and exit planning; and can take the form of a private limited company, LLP or a JV contract between the relevant parties. We are able to draw on expert advice from our teams in corporate, commercial, real estate, employment pensions and immigration, regulatory, education, tax, finance and in particular around cross border JVs from our commercial partners in Legalink.  

Equity funds

We have advised on the creation of limited partnerships under the Limited Partnership Act of 1907 as part of structures used in the establishment of certain types of equity funds working closely with colleagues in our Banking and Finance team. Examples include:

  • Establishing micro loan and equity funds as part of the £400million Northern Powerhouse Investment Fund; and
  • Establishment of £40million Enterprise Ventures Small Loans Fund.

Professional partnerships

We have particular experience and expertise in advising professional partnerships, particularly solicitors, accountants, GPs and dentists. 

In the case of legal service providers we provide a full service solution working closely with our specialist professionals’ service regulatory compliance team Compli to ensure clients are able to better manage commercial and regulatory risks.

Joint ventures – rise of the fiduciary duty

A director of a joint venture company will more often than not be a director of one of the companies participating in the joint venture.

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