MEMORANDUM OF ADVICE: CARBOLIC SMOKE BALLERS
Thank you for entrusting Dolittle & Billem Solicitors with the task of preparing your Business Partnership Agreement for the Carbolic Smoke Ballers. I am confident that we have prepared this document to the standards required under the laws of New South Wales, and have taken into account all additional and relevant aspects surrounding the formation of your band. This letter has been created to explain in detail the provisions which have been included within your agreement, ensuring that you have a full understanding of the legal effect of such a document. The agreement has been constructed in a way which makes it fair upon all the band partners, however there are a number of instances whereby you may disagree with some provisions, and in such an event we can look at altering those to greater reflect the current and future intentions of the band.
First and foremost, it is important to highlight that the most appropriate way to establish your band is through the creation of a business partnership. A partnership is undoubtedly a good choice of legal structure for a new business due to several reasons; partnerships are easy to establish and have lost costs associated with their start-up, which means that you and your band partners can continue to produce a profitable business without any financial burden. Furthermore, having your business in the form of a partnership also means that there is the opportunity to split the income of the