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Create a preliminary plan for an alliance. This plan should detail how the alliance will benefit both companies. Approach the key decision maker. Build a relationship with your contact first. Present your idea. Listen and adapt your proposal as necessary.
Forming a PartnershipPartnerships exist between two or more people who want to go into business together. In most states, creating a legally binding partnership requires nothing more than a verbal agreement and a handshake.
Share the same values. Choose a partner with complementary skills. Have a track record together. Clearly define each partner's role and responsibilities. Select the right business structure. Put it in writing. Be honest with each other.
Name of the partnership. Contributions to the partnership. Allocation of profits, losses, and draws. Partners' authority. Partnership decision-making. Management duties. Admitting new partners. Withdrawal or death of a partner.
Name of your partnership. Contributions to the partnership and percentage of ownership. Division of profits, losses and draws. Partners' authority. Withdrawal or death of a partner.
Although there's no requirement for a written partnership agreement, often it's a very good idea to have such a document to prevent internal squabbling (about profits, direction of the company, etc.) and give the partnership solid direction. Limited liability partnerships do have a writing requirement.
Name of the partnership. Contributions to the partnership. Allocation of profits, losses, and draws. Partners' authority. Partnership decision-making. Management duties. Admitting new partners. Withdrawal or death of a partner.
Share the same values. Choose a partner with complementary skills. Have a track record together. Clearly define each partner's role and responsibilities. Select the right business structure. Put it in writing. Be honest with each other.
Your Partnership's Name. Partnership Contributions. Allocations profits and losses. Partners' Authority and Decision Making Powers. Management. Departure (withdrawal) or Death. New Partners. Dispute Resolution.