The Partnership Agreement

The partnership agreement is a contract that outlines the voluntary agreement between two or more individuals to form a partnership. This agreement can be written, oral, or implied, and it is sometimes referred to as the articles of co-partnership. The articles of co-partnership include important information about the partnership, such as:

  • The location and purpose of the business
  • The date of establishment
  • The names and capital contributions of the partners
  • The rights and duties of the partners
  • The method of sharing net income or net loss
  • The process for withdrawing assets
  • The procedure for resolving disputes through arbitration
  • The process for adding or withdrawing partners
  • The rights and duties of surviving partners in the event of a partner's death.

Related Content