Every group practice should have a formalised practice agreement detailing the responsibilities of the principals and the nature of the working relationship. Key areas that should be agreed within any agreement include:

• Ownership
• Rights and obligations
• Financial arrangements
• Decision making
• Entry and exit
• Dispute resolution

Please see the Areas to consider for each structure  to determine the most appropriate business structure prior to going through the key considerations to help you develop a suitable practice or shareholder agreement from the template agreements.

If you need assistance please call your BAS advisor on 0800 800 627 or contact business@mas.co.nz.