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How much financial risk am I taking in becoming a practice partner?

April 26, 2017financial partner Practice risk taking

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How much financial risk am I taking in becoming a practice partner?

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Under a normal partnership agreement, all partners are ‘jointly and severally liable’ for the liabilities of the practice. This means that you could not only be liable for part of any debt, but for all of it if other partners default. It is very important that you take individual legal and financial advice before signing any partnership agreement.