Partnership Agreements: What You Need To Know

BASICS A Partnership Agreement is an agreement between parties to provide for the terms of a business partnership between partners. Could be more than two. The agreement would typically govern capital contributions, management of the business venture, distribution of profits between partners and loss. NECESSITY I ALWAYS recommend and encourage clients to put any commitment in writing. Colloquially, "talk is cheap". However, when parties put commitments and promises in writing, then sign it, you have your evidence at the tip of your fingers. Although a valid contract may be oral, it is very challenging to prove. As a lawyer, I would happily...

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