Partners parting

I have a solicitors’ practice of three equal partners which is splitting. Partner A is taking his criminal section to a new limited company which he has formed with one of the soon to be former employees.

Partner A is planning to sell his ‘share’ of the goodwill to the limited company at a value that is acceptable to him and his co-shareholder. Partners B and C are taking the civil section of the practice.

They are still considering their options which include continuing as a partnership (using the same name as the existing practice) practising as a limited company or a disposing to a larger practice where they would become partners.

I think that in the absence of other agreements partners own and therefore dispose of assets in their capital sharing ratios. These partners regard the split as being reasonable so in their...