Partnership Agreements for Professional Services

The Most Important Document Your Partnership Will Have

Professional services partnerships live or die by their governance documents. Co-Founder Lee Clark has mediated dozens of partnership disputes since 2008, and the root cause is almost always an inadequate or missing partnership agreement. The ABA confirms this pattern nationally.

Critical Provisions

Ownership percentages and capital contributions, management authority and voting rights, profit and loss allocation, distribution schedules, non-compete and non-solicitation obligations, client allocation rules, buyout triggers and valuation methodology, and deadlock resolution mechanisms. See LLC Operating Agreements.

Exit Planning

Every partnership agreement must address what happens when a partner leaves, including voluntary withdrawal, involuntary removal, death, disability, and retirement. Buy-sell provisions define the mechanics. For ongoing governance, explore Fractional General Counsel.