What is the cost?

Many dentists practice in partnership with others. This has many advantages, however, if the terms of your partnership are not properly documented, it can carry even greater risks.

Some commentators claim a partnership is similar to a marriage. It is akin to a marriage when a dispute between partners arises, that can be comparable to an acrimonious divorce. During disputes partners can feel isolated where they have to attend work everyday and deal with partners with whom they are in contention. Partners in a dispute will often face direct personal criticisms as to their performance/contribution to the partnership. A partnership agreement will not prevent a dispute but it will clearly set out how to deal with a matter where one arises.

Most dentists who are carrying out business in partnership have not recorded the terms of their partnership agreement in writing. Partners at the commencement of their partnership are often more focused on dealing with their patients, employees, the primary care trust and other business concerns. The task of recording the terms of the partnership is rarely even discussed let alone committed into writing. This does not in itself create a difficulty where the partners are performing and getting along and the business is going well. However the lack of a partnership agreement will create difficulties if, and when, disputes arise between partners.