Recently, a husband and wife came to me explaining they wish to go into business partnership together.

The first question I asked them: Did they have a partnership agreement? To which they said: No.

I pointed out the three main reasons why they must have a partnership agreement.

One, the partnership agreement explains what happens if they wish to dispose of the business.

Two, it prescribes what to do if they wish to sell the business.

Three, it also tells them what happens if they wish to dissolve the partnership.

If you consider setting up a business partnership with your spouse, contact Green and Peter before it is too late on 020 8446 8100.