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Information Case Studies Business Succession Agreement versus Partnership Agreement

An Australian agreement is expected to have these clauses:

  • Very flexible to suit most situations;

  • Suitable for any type of business;   


  •  Calls for compliance with non-discrimination and other policies; 

  •  Suitable for partnerships of up to ten or more people;

  • Very extensive guidance notes.

Business Succession Agreement ( BSA ) additional clauses:

  1. Business Valuation Formula clearly explained

  2. Immediate succession rules to be clear and certain

  3. Trigger points that can initiate the agreement defined

  4. Rules of Vendor Purchase Schedule clearly explained

  5. Rules to manage any business insurance funding that is in place

  6. Clear rules for immediate transfer of share/unit instruments

  7. Legal protection of outgoing security of payment to ex partner

  8. Comprehensive corporate governance

  9. Dispute resolution procedures in full

Few WA legal firms have a business succession agreement precedent.  Solicitors on the BizSuccession panel do.  Their agreements are underpinned by my reports. This is why, when written by our panel, your BSA is so more comprehensive.



Julie Says

We are in a syndicate raised by us to purchase a commercial winery. Our accountant was concerned about potential withdrawal of capital and the effect this would have on our bank and remaining backers. Jim was asked to come in, sort it out and get written agreement from all parties as to the movement of capital. He delivered everything we needed and more. Every syndicate member was relaxed and so were our bankers. The legal side was set up by a solicitor of Jims suggestion and it was the simplest set of actions for us all to achieve security of investment.