Doctors practising together who agree to carry on a business in their common financial interest are considered to be working in a partnership. Partners in a medical practice share income, expenses, and patients equally, unless otherwise specified in a partnership agreement.
Partners are also jointly and severally liable for the debts and other obligations of the partnership. This means that a partner can be bound by the actions of other partners, and it is important that careful deliberation is undertaken before entering into a partnership.
AMA Victoria’s pro-forma Partnership Agreement gives medical practitioners a sensible starting position for entering into partnerships with one another for the specific purpose of running a medical practice. It deals with the various aspects of operating in partnership with other medical practitioners, from the establishment of the partnership, through the distribution of profits and losses of the partnership, to the eventual dissolution of the partnership.
Purchasers receive a hard-copy draft agreement and an electronic Word version that can be tailored to individual needs.
AMA Victoria recommends that each partner obtain independent legal and accounting advice before entering into a partnership relationship.
AMA Victoria Members: $443.50* (inc. GST and postage)
Non members: $613.50* inc. GST and postage)
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