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ARTICLE · 20 SEPTEMBER 2022

Joining a medical practice as an owner

Kennedys
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It is important when joining a medical practice to properly understand the different business structures.

AustraliaCorporate/Commercial Law
Nicholas Blackmore
Nicholas Blackmore
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Joining an existing medical practice as an owner is a big step, both in terms of your medical career and your legal responsibilities. It is important to properly understand what you are signing up to.

Becoming a partner

Partnerships require new entrants to sign a deed which provides that you will comply with the terms of the partnership agreement. The partnership agreement sets out the terms on which the partners agree to operate the partnership, including the distribution of profits and losses, the rights and obligations of partners to each other, termination rights, and what happens when a partner leaves. If you are joining an established partnership, it is usually offered on a "take it or leave it" basis. Nevertheless, it is always a good idea to seek legal advice, to ensure you understand what you are getting into.

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