Our lawyers have acted in Ontario and other jurisdictions for partners in small and mid-sized partnerships, and limited liability partnerships (LLPs) and contractual parties and partners in joint ventures.
Partnership is a relationship between persons carrying on a business in common with a view to profit, which is not a corporation. It is one of the most commonly used business associations for small and medium-sized business. A partnership can be created at law and the Partnerships Act, R.S.O. 1990, c. P.5 sets out rules for determining existence of partnership, though commonly the parties enter into a partnership agreement.
Joint Venture – Is it a Partnership?
Joint ventures are often established to synergize what each member of the joint venture can add to the consortium. Sometimes a joint venture is the structure chosen because those members engaged in the joint venture are located in different jurisdictions. While invariably created by contractual agreement, some joint ventures have been held by the courts to be a partnership, while others have been determined to be merely contractual, without comprising a partnership.
Partnership Disputes and Joint Venture Litigation and Arbitration
Disputes within a partnership or joint venture partnership disrupt the business and, if not dealt with quickly and discreetly, may have a long term effect on their reputation in the business community, on the confidence of their trading partners and perhaps even the viability of the partnership itself.
If you have, or may become involved in, a partnership dispute, please contact us for an initial consultation.