Distributions: how the profits and losses are divided amongst partners.Place of Business: where the partners go to work every day. Purpose: the type of business being run by the partnership.Partners: the names of each person who owns the company.Ī simple Partnership Agreement will identify the following basic elements: A partnership is a business arrangement where two or more individuals share ownership in a company and agree to share in their company’s profits and losses. Use our 50/50 Partnership Agreement template if you want to equally share all profits and losses with a partner.Ĭreate Small Business Partnership Agreement → What is a Partnership Agreement?Ī Partnership Agreement is an internal written document detailing the terms of a business partnership. Detail the key information of a partnership for a small business in our Small Business Partnership template.
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