#business partnership agreement
Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.
Use this Partnership Agreement if:
- You are entering into a Partnership and will like to lay down the rules of the Partnership.
What does the Partnership Agreement cover?
- Partnership name and business address;
- Names of the partners;
- Effective date of agreement, and commencement of Partnership;
- Maintenance of the Partnership account;
- Duties and limitations of each partner;
- Sharing of capital and property, profit or losses;
- Operation of partner s shares;
- Rules governing dissolution of the Partnership;
- Terms concerning retirement, death, or expulsion of a partner; and
- Dispute resolution.
Other names for Partnership Agreement include:
- Partner Agreement; and
- Partnership Contract.
- suitable for all Australian states and territories
- last updated July 2014
- under 15 minutes
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