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So farewell, Pardner

With so many doctor retirements around, Susan Hutter gives her guidance on how to handle the departure of a business partner.

Farewell pardnerMany private medical practices these days operate as a group, trading either as a partnership or, more usually, a limited liability partnership (LLP) and, in some cases, as limited companies.

Therefore, consultants who trade in this manner are no longer answerable only to themselves –  they have to work in harmony with their other partners.

On the basis that you never need an agreement until there is a disagreement, it is vital to have an agreement in place if you are trading either as a partnership, the LLP-style partnership or a limited company.

This way, the agreement can be put into place while everyone is on friendly terms.

Take legal advice, but the main topics to cover are: