Since partnerships have multiple owners, it is wise for a written agreement to provide guidelines for how the business will run and how the profits will be shared (and of course, how the liabilities will be shared). Partnership agreements are especially important for general partnerships, in which the owners have no liability protection from business debts or judgments (these could arise from lawsuits, contract disputes, unpaid invoices, etc.). General partnerships, who aren’t required to file anything with the Secretary of State, definitely should address liability and business control issues in their partnership agreements.
It can be tempting for individuals starting a new company to take shortcuts to save time or costs, but forgoing a partnership agreement should not be one of them. Executing a written agreement before business starts can be a safeguard against potential problems in the future.
The Preparation of your General Partnership
Unlimited revisions for 30 days along with lifetime customer support.
PACKAGE PRICE: $150
why prep xpress
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