Put a business partner exit deed in writing

Problems usually arise after the relationship has already changed. If the exit terms are only discussed informally, there can be uncertainty about who still owns what, whether the departing partner remains responsible for existing obligations, what happens to confidential information, and whether either side can make later claims. A deed helps record the agreed position in a more complete way. For example, it can deal with ownership transfers, releases, handover obligations, and any continuing restraints or confidentiality terms that still matter after the exit.

The content depends on your arrangement, but an exit deed often covers the identity of the departing partner, what interest or rights they are giving up, any payment or consideration, treatment of business property or information, confidentiality, releases, and the steps needed to implement the exit. It may also refer to existing agreements that need to be varied or brought to an end. If there are related documents, such as transfer paperwork or board approvals, we can identify how those fit alongside the deed so the exit is documented coherently.

The legal wording usually turns on how the business is structured and what has already been agreed commercially. Important details include whether the person is a shareholder, director, partner, contractor, or a mix of these, whether there is an existing shareholders agreement or partnership-style arrangement, and whether money, assets, or responsibilities are changing hands. If intellectual property, client relationships, or access to systems are part of the exit, those facts can also affect the deed. The more clearly the commercial position is settled, the more efficiently the document can be prepared.

A template can be risky where the exit involves more than a simple departure. Many partner exits involve overlapping issues such as ownership records, prior agreements, confidentiality obligations, releases, and practical handover steps. A generic form may leave gaps or use language that does not fit the way your business is actually set up. That matters because an unclear deed can create fresh arguments later about what was meant to happen. A tailored document is usually more useful where the exit affects control, liabilities, or ongoing obligations between the parties.

Timing depends on how settled the exit terms already are and whether there are existing agreements to review. Once we have the relevant background documents and your instructions, we prepare the deed and raise any points that need clarification before it is finalised. If the exit is straightforward and agreed in principle, the process is usually quicker than a matter where ownership, payments, or releases are still being negotiated. This service covers the deed and the legal work described on the page. It does not include ongoing representation after completion.

Submit an enquiry on this page or click 'Get started'. One of our legal consultants will review it within 1 business day and get in touch to understand what you need.

Your consultant will then email you a fixed-fee quote setting out the cost, scope and timing. If you're happy with it, you can accept the quote and sign our engagement letter online.

Once you've accepted, one of our Australian-qualified lawyers will work with you to complete your project. They'll contact you by email or phone if they need anything.

Sprintlaw works on fixed-fee pricing wherever possible, so you can review the scope and cost before you decide whether to proceed. For the Business Partner Exit Deed service, pricing starts from $900.00.

After you enquire, a legal consultant will confirm what is included, the expected timing and whether any extra work is needed before you engage us.

We work online, so we can help wherever you are in New Zealand. Our team works remotely, mainly from Australia.

Your work is done by our Australian-qualified lawyers, who hold Australian practising certificates and specialise in business law. None of them are New Zealand lawyers or hold a New Zealand practising certificate.

Sprintlaw NZ Limited is a legal consultancy, not a law firm, and is not regulated by the New Zealand Law Society. We don't act in court or tribunal matters, conveyancing (including leases and business sales) or other reserved areas of work. Communications with Sprintlaw are unlikely to be protected by legal professional privilege. We still keep everything confidential under our engagement letter.