Partnership Agreements

A partnership is basically two or more parties coming together to engage in a business activity, whatever that activity may be. Partnerships are a unique business form in that they require no formal agreement, and there have been partnerships that have existed successfully without a formal written agreement. However, operating a partnership without an agreement is dangerous, unnecessary and nearly always disastrous. The rights and duties of the partners require clarity, so that everyone knows what is expected of them. And, the partnership needs to be protected from liability in its operation. Without an agreement, you are leaving the door open to frivolous and expensive law suits. We can help you close the door on needless liability.