Partnership Act 1890: Primary legislation that defines partnerships and establishes basic rights and obligations between partners. Essential reference even if not forming a formal partnership structure.
Companies Act 2006: Comprehensive legislation governing company formation, management, and operation. Particularly relevant if the co-ownership involves a company structure, defining directors' duties and responsibilities.
Law of Property Act 1925: Fundamental legislation governing property ownership and interests in England and Wales. Critical for any shared business premises arrangements within the co-ownership agreement.
Limited Liability Partnerships Act 2000: Legislation governing the formation and operation of Limited Liability Partnerships (LLPs). Relevant if considering an LLP structure for the co-ownership.
Contract Law Principles: Common law principles governing contract formation and enforcement, including offer, acceptance, consideration, and intention to create legal relations.
Financial Services and Markets Act 2000: Regulatory framework for financial services and markets. Must be considered if the co-owned business involves regulated financial activities.
Consumer Rights Act 2015: Legislation protecting consumer rights and defining business obligations when dealing with consumers. Relevant if the co-owned business provides goods or services to consumers.
Equality Act 2010: Legislation prohibiting discrimination and promoting equality. Important for employment practices and service provision in the co-owned business.
Data Protection Act 2018 & UK GDPR: Legal framework for data protection and privacy. Essential for ensuring compliance with data handling responsibilities in the business operation.
Business Protection from Misleading Marketing Regulations 2008: Regulations governing business marketing practices and protecting against misleading advertising. Important for business communications and marketing activities.
