Calgary Partnership Lawyer

Christopher R. Neufeld

Neufeld Legal Professional Corporation

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CALGARY JOINT VENTURE / PARTNERSHIP LAWYER

When seeking to realize potential synergies available through a joint venture or strategic partnership with a complimentary company, the legal structure of the relationship is absolutely essential, as it will not only dictate the success or failure of the particular venture, buth the overall future of each of the corporate participants on a far greater scale. As such, it is essential that the legals of any proposed joint venture or strategic partnership has been properly developed with the assistance of your lawyer.

As your lawyer, we understand the importance of the integration of the law and business in the process through which your business makes such a large investment and commitment in its future. Given the significance thereof, nothing short of a focused and intelligent approach should be pursued. The dangers are considerable should matters deviate from the plan. And when there is such a deviation, the company's joint venture agreement or partnership agreement is going to determine how the situation can be resolved. And with an inadequate agreement, your business enterprise can be put in considerable jeopardy.

Given the fundamental importance associated with the negotiating and drafting of joint venture/partnership agreements, it is to the company's benefit to be engaging experienced legal counsel from the outset and thereafter through its implementation. Only by such legal involvement and monitoring of its progress, can a company expect to make the most out of such a strategic engagement. And with the end-game that is being pursued, it is to the company's advantage to recruit the appropriate professionals to facilitate their joint ventures and strategic partnerships.

Given the significance of legal decisions to your corporate actions, it is important that you retain the experienced counsel of the right lawyer to provide that all important legal direction that your business requires. Given the incredible potential that your company possesses, and the countervailing forces that are constantly seeking to derail your progress, you need to insure that you surround yourself with the right people to drive progress forward, while guarding against the dangers that abound in the commercial world.

For commitment and experience in business law, contact corporate lawyer Christopher Neufeld at Chris@NeufeldLegal.com or 403-400-4092.

Partnership law in Calgary and Alberta is driven in part by statute and the interpretation / application thereof. A key statute is the Partnership Act (Alberta), with the following being a segment thereof that is of significance:

Determining existence of partnership
4 In determining whether a partnership does or does not exist, regard shall be had to the following rules:
(a) joint tenancy, tenancy in common, joint property, common property or part ownership does not of itself create a partnership as to anything so held or owned, whether the tenants or owners do or do not share profits made by the use of it;
(b) the sharing of gross returns does not of itself create a partnership, whether the persons sharing the returns have or have not a joint or common right or interest in property from which or from the use of which the returns are derived;
(c) the receipt by a person of a share of the profits of a business is proof, in the absence of evidence to the contrary, that that person is a partner in the business, but the receipt of the share, or of a payment contingent on or varying with the profits of the business, does not of itself make the person receiving the share or payment a partner in the business, and in particular:
(i) the receipt by a person of a debt or other liquidated amount by instalments or otherwise out of the accruing profits of a business does not of itself make that person a partner in the business or liable as a partner;
(ii) a contract for the remuneration of a servant or agent of a person engaged in a business by a share of the profits of the business does not of itself make the servant or agent a partner in the business or liable as a partner;
(iii) a person who is a surviving spouse or adult interdependent partner or child of a deceased partner and who receives by way of annuity a portion of the profits made in the business in which the deceased person was a partner does not by reason only of that receipt become a partner in the business or liable as a partner;
(iv) the advance of money by way of loan to a person engaged or about to engage in a business on a contract with that person that the lender shall
(A) receive a rate of interest varying with the profits, or
(B) receive a share of the profits arising from carrying on the business,
does not of itself make the lender a partner with the person or persons carrying on the business or liable as a partner, so long as the contract is in writing and signed by or on behalf of all the parties to the contract;
(v) a person receiving by way of annuity or otherwise a portion of the profits of a business in consideration of the sale by the person of the goodwill of the business is not by reason only of that receipt a partner in the business or liable as a partner.
RSA 2000 cP‑3 s4;2002 cA‑4.5 s61"

It should nevertheless be noted that this represents merely an extract from the statute, with the full text being available at the following link. Also, it is advisable in almost all circumstances to engage knowledgeable legal counsel to deal with matters of a legal nature and how the provincial statute impacts your business.

The law offices of Neufeld Legal Professional Corporation (headquartered at 1600, 144 4th Avenue, Calgary, Alberta) are directed at provided businesses in Calgary, and throughout Alberta, with experienced and competent legal services that are intended to assist in the advancement of business-related legal projects, from contracts and buying/selling a business to joint ventures / strategic partnership and commercial financing. Calgary. Legal Disclaimer. Privacy Policy. Copyright 2013.