Uniform Partnership Act

The Uniform Partnership Act (UPA) is a set of laws that provides a framework for forming and operating partnerships in the United States, ensuring consistency across states. It outlines the rights and responsibilities of partners, including how profits and losses are shared, how decisions are made, and how disputes are resolved. The UPA helps protect partners by defining their legal relationships and provides guidelines for dissolving a partnership if necessary. Essentially, it aims to promote fairness and clarity in partnerships, making it easier for businesses to operate collaboratively.