Brooks Pierce attorney Mack Sperling's comments on partnership agreements were included in a recent North Carolina Lawyers Weekly article.
The article discusses the case of a Fayetteville law firm that failed to have a written partnership agreement with an attorney who left the firm. The attorney who left asked the firm be dissolved, but the remaining partners continued to operate the firm. The North Carolina Business Court ruled that a partnership can be dissolved without requiring the liquidation of the partnership’s assets.
Sperling’s comment, which originally appeared on his North Carolina Business Litigation Report blog, advises “’lawyers practicing with one or more other lawyers” to “put your agreement in writing and avoid having to get a Business Court judge to resolve your disagreement.’”
North Carolina Lawyers Weekly subscribers can read the full article here.