Partnership

Consider the following fictitious scenario:

Martin and Sara are considering setting up a business together as fitness personal trainers. They are both fully qualified and have several clients each already. They want to expand their business and work together in partnership. Sara is friends with another personal trainer Dan who wants to work with Martin and Sara and also develop a fitness app which he believes will be very popular with their existing clients as well as a wider audience. Martin is in agreement with Dan and Sara's ideas for expansion.

Advise Martin, Sara and Dan as to the main clauses that they will need to include in a partnership agreement and why.

You should refer to the Partnership Act 1890, the partnership precedent agreement in your Unit Guide and relevant case law. You should not draft any clauses.