Partnerships
Are you ready to team up with one or more doctors to own or operate a practice together? Then you’re in the right place. Joint practice ownership and operation can be structured in many ways, but the goals must always be planning for possibilities in the future and the best structure for tax purposes going forward. Agreements must cover issues such as practice operations, management, and, importantly, how and when a partner can or must get out of business and at what price.
All of these legal issues are very specific to the practice itself and its owners. A personalized approach is required, and that is the focus of our experienced attorney. Whether you are an owner bringing in an associate to co-own or a group looking to start or buy your own joint practice, it’s critical to get the right advice and structures from day one.
- Letters of Intent and Memoranda of Understanding
- Partnership, Operating, and Shareholder Agreements
- Key Questions Addressed:
- Clarification of each dentist owner’s rights and obligations.
- Certainty about how the practice will be run.
- Preparing for valuation and execution in the event an owner exits.
- Setting known rules in advance for an owner leaving or being added.
- Key Restrictive Covenants with the Practice
The key to a good joint ownership or partnership structure is commitment to a set of rules from the beginning. The more certainty and agreement on operations and “what-ifs,” the better the business relationship is likely to grow and thrive. Our attorney is focused on planning for success in your partnership.
It is important to cover key issues when structuring your joint practice or partnerships. Some of these involve key legal concerns, but many are operational and exit issues that our attorney focuses on based on years or both positive and negative experiences with these dental arrangements. Bring our experience to bear.
As in all areas of our practice, we stay in the know about current trends in joint practice / partnership setup and drafting. Your agreements will be focused on you, and will address the concerns you have while protecting you under the law.