Business partnership agreements are more than a formality. These agreements are roadmaps that help owners throughout the life of the business. While you can amend a partnership agreement, it’s better to get them right up front. Agreements that don’t anticipate rough spots can do more harm than good.
At the most basic level, a partnership agreement lays out:
• The partners’ responsibilities
• Ownership allocation
• The organization’s debt liabilities
A well-considered partnership agreement will also contain several...
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