Partnerships and Company Formation

Starting a business is exciting, but choosing the right structure and getting your legal documents in order is essential for long-term success. At Pomphreys Solicitors in Wishaw, we help entrepreneurs and professionals across Scotland form UK partnerships and limited companies, giving them a strong legal foundation from day one.

Choosing the Right Business Structure

One of your first and most important decisions when starting a business is how to structure it legally. Your choice will affect your tax obligations, how decisions are made, your exposure to personal liability, and your ability to raise finance or take on investors.

We offer practical, tailored advice on:

  • General partnerships – often used by professionals, family-run businesses and consultants
  • Limited partnerships (LPs) – where at least one partner has limited liability
  • Limited liability partnerships (LLPs) – popular among law firms, accountancy practices and service providers
  • Private limited companies (Ltd) – the most common route for growing or investment-driven businesses
  • Sole trader vs incorporated options – weighing the risks and benefits based on your situation

We’ll help you understand the pros and cons, so you can make an informed, confident decision.

What We Do for New and Growing Businesses

Our business formation services are designed to be straightforward and scalable, ensuring a seamless process. We support clients with:

  • Incorporating companies at Companies House – including company name checks, SIC codes, and registration
  • Drafting tailored Partnership Agreements – setting out profit-sharing, decision-making, and dispute resolution terms
  • Preparing Shareholders’ Agreements – to avoid fallouts between directors or investors later
  • Advising on Articles of Association – ensuring your company constitution reflects how you want to operate
  • Creating terms of business, NDAs and contracts – to protect you from day one
  • Registering Powers of Attorney or succession planning documents – in case you need someone to step in
  • Supporting business restructuring – for growing or evolving business models

We work with sole founders, family-owned businesses, co-directors, and investor-led ventures across a wide range of sectors.
After the legal setup is complete, we can also support your business with commercial property advice, employment law guidance, and dispute resolution—ensuring you have a trusted legal partner as your company grows.

Man and woman partners in a business standing back to back

Starting a business doesn’t need to be overwhelming. With the right legal support, you’ll not only get set up correctly—you’ll also avoid future disputes and protect your personal and financial interests. We’ll take care of the paperwork, so you can focus on your business plan.

Why Choose Pomphreys Solicitors?

Pomphreys is a trusted legal partner to entrepreneurs, professionals, and family businesses throughout Wishaw, Lanarkshire and beyond. Our clients appreciate:

  • ✅ Clear, pragmatic advice at every step
  • ✅ Fixed fees, where possible, for start-up services
  • ✅ Tailored documents that reflect real-world needs
  • ✅ Ongoing legal support for whatever comes next

We’re not just here to form your company – we’re here to help you build and protect it.

Build a Strong Foundation for Your Business

Starting or restructuring a business? Pomphreys Solicitors can help you form a company, draft partnership agreements, and plan ahead with legal confidence. Get in touch now to take the next step in your business journey.

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❓ Common Questions About Partnerships and Company Formation in Scotland

What’s the difference between a partnership and an LLP?

An LLP offers limited liability to its members, meaning their personal assets are protected. A traditional partnership does not.

Do I need a shareholders’ or partnership agreement?

Yes. Even among friends or family, having a written agreement avoids misunderstandings and makes the business more resilient.

Can you help restructure an existing business?

Absolutely. We advise on converting from sole trader to limited company, adding new directors or shareholders, and revising company governance documents.