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.

Just submit an enquiry via this page or click the 'get started' button on our website to submit an enquiry. After you've submitted an enquiry, one of our legal consultants will review your enquiry within 1 business day and get in touch to get a better idea of exactly what you are looking for.

Then your legal consultant will send through an email with a bit more information about the services you need, along with a fixed fee quote setting out costs, scope of the service and timing. Have a read through it, and if you're happy with the scope, you can accept and sign our engagement letter online - easy!

Once you've formally accepted, we'll connect you with a specialist lawyer and they will work with you to complete your project. They will contact you by email or phone if they need to get in touch.

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 operate completely online, which means we can help you wherever you are in New Zealand. We have office spaces in Sydney, and in Melbourne, but our use of technology allows our team members to work remotely from around the world. Our legal team are mostly based in Sydney, Melbourne, Brisbane and Perth. We also have a London office for Sprintlaw UK.

Our legal team is made up of experienced lawyers, who are specialists in various areas of law and hold an Australian legal practising certificate. None of our Sprintlaw lawyers are New Zealand qualified lawyers and they do not currently hold a New Zealand practising certificate.

They provide legal services working remotely from Australia via our 'legal consultancy' model, through which (under section 6 and section 35 of the New Zealand Lawyers and Conveyancers Act 2006) our Australian legal team are permitted to provide legal services to New Zealand businesses provided they do not provide services in certain 'reserved' areas of law. You can read our FAQ page to learn a bit more about our 'legal consultancy' model.

Given the strong similarities between Australian and New Zealand law, and the areas of law in which we practice (being small business and startup law), we do not view the fact that our lawyers have not qualified in New Zealand as having any substantive impact on the quality of our service. We are committed to ensuring that we provide high quality, affordable legal services to all our New Zealand clients.

Our legal team have all trained at leading firms, but have left the traditional corporate law world to join us on our mission to create a new and better way of delivering legal services. They have specialist expertise in technology law, intellectual property law, contract drafting and review, corporate law and commercial law.