Define roles, responsibilities, capital contributions, and profit-sharing terms to establish a legally secure and well-structured business partnership.
A Business Partnership Agreement is a legal contract between two or more individuals or entities who wish to run a business together and share profits. It outlines the terms of the relationship, including ownership stakes, capital contributions, profit and loss distribution, dispute resolution mechanisms, decision-making protocols, and exit strategies. This agreement minimizes conflicts and provides clarity to all partners.
A well-drafted Business Partnership Agreement covers critical components such as:
Partnership Agreement are governed by various laws, including:
A general partnership has unlimited liability for partners, while an LLP limits liability and offers more structure and protection.
While not mandatory, registration is recommended to ensure enforceability.
Yes, but certain legal and regulatory compliances must be met.
Yes, amendments can be made with mutual consent and updated documentation.
Absolutely. All information shared with us is 100% confidential and protected.