Partnership agreement
PARTNERSHIP AGREEMENTS Partnership agreement : is the contract between two or more people who are entering business ownership together. We know that it is important to reduce fights between partners, and one of the most effective ways to do this with a detailed partnership agreement. Ask yourself: what kinds of issues are likely to be covered in a partnership agreement are: · Who puts in how much of the capital? · Who gets how much of the profits? · Who has authority over which decisions? · Who has which responsibilities? · How can disputes among the partners be settled? · How can the partnership be changed? · How can the partnership be ended? These issues seem pretty simple, but simple issues become enormously complex if they are not clarified at the beginning of the relationships. What if you were to start a partnership with your friend? You agree that