Partnership Agreement

A Partnership Agreement is a legal document created by two or more individuals or entities who want to start a business together. It outlines the terms of their partnership, including each partner's responsibilities, how profits and losses will be shared, decision-making processes, and procedures for resolving disputes. This agreement helps prevent misunderstandings by clarifying expectations and roles within the partnership. It’s essential for protecting the interests of all partners and ensuring a smooth operation of the business. Having a clearly defined Partnership Agreement can be crucial for the long-term success of the partnership.