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It is highly advisable to have a business partnership agreement for any partnership. Create and download the right one for you
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A Partnership agreement is a contract between the members of a partnership which defines the responsibilities and powers of the partners. It also sets out the systems and procedures involved in running the partnership.
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When the time comes to select the right structure for your business, there are three main configurations to consider, each of which has advantages and disadvantages.
A partnership is formed when two or more individuals (which can include legal entities, such as limited companies) agree that they form a partnership.
Without a partnership agreement, the business will be governed by the Partnership Act of 1890, which may produce unforeseen or undesirable results, particularly if there is a future disagreement between partners.
A Partnership agreement sets out:
- The responsibilities of the partners
- The powers of the partners
- The procedures involved in running the partnership
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"Fantastic! The document I used was so comprehensive and easy to complete. It is very reassuring to know my business now has this level of protection"
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