Legal Counselling on Professional Partnerships in Hong Kong
Legal Counselling on Professional PartnershipsUpdated on Friday 18th November 2016
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Professional partnerships in Hong Kong
At our law firm in Hong Kong, we can provide professional guidance and counseling regarding the formation and management of professional partnerships in the city. Hong Kong allows for the formation of two types of partnerships:
- the limited partnerships: where partners ca be general (with unlimited liability) or limited (with liability only to the extent of the invested assets);
- the general partnership: where all the partners have unlimited liability for the partnership.
When two or more investors in Hong Kong decide to form a partnership, our experts can help with advice and legal representation in all areas of professional disciplines.
We invite you to watch a short video on professional partnerships in Hong Kong:
The importance of legal advice for business partnerships
Our lawyers in Hong Kong are able to help you answer important questions about the legal limitations of the partnership, the liabilities that may arise after concluding an agreement with another party and the manner in which disputes can be solved.
Our specialists have a wide range of experience, including working with all types of partnerships in Hong Kong. If you are a partner in one of these business forms, one of our lawyers can help you with information about partnership taxation in Hong Kong and any other issues that may concern this particular business form.
The services offered by our experts include:
- drawing up partnership agreements;
- dispute resolution in partnerships;
- agreements for the introduction of a new partner;
Partnership agreements in Hong Kong
The two parties that wish to enter into a partnership should conclude a partnership agreement. This document can be legally binding and will act as a guideline for each one’s rights and obligations during the duration of the partnership.
The agreement can include details about the commencement date and duration, the place of business in Hong Kong, the development of business meetings and the individuals who will perform management duties, any limitations on authority, expulsion from the partnership and various other information about managing the business venture, such as banking arrangements between the partners.
Small partnerships will typically have less stringent clauses and the agreement can be adjusted as per the needs of the founders and the particularities of the field in which the partnership will activate.
If you are interested in knowing more about professional partnerships in Hong Kong and wish to conclude such an agreement with another party, the experts at our Hong Kong law firm will answer all of your questions.