The purpose of a partnership agreement is to set out the nature and extent of a relationship between the parties about how they will work, in much the same way as a shareholders’ agreement for a company.
It is typically required in the following circumstances:
- When two or more people start a new business or project together
- When a new person takes a share in an existing business operated by one person
- When existing partners want to formalise their partnership agreement
- When existing partners want to change the balance of control and ownership of the business
Custom drafted to your specifications after consultation with an attorney.Preview Example