This document is a 44-page model partnership agreement for a law firm. It covers, among other things, duties of partners, management, operational matters, distributions, capital, changes as to partners, and dissolution.
Model Partnership Agreement
Category:
State:
Multi-State
Control #:
US-L0805A
Format:
Word;
PDF;
Rich Text
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FAQ
A partnership agreement is a contract between partners in a partnership which sets out the terms and conditions of the relationship between the partners, including: Percentages of ownership and distribution of profits and losses. Description of management powers and duties of each partner.
Partnering (sometimes referred to as alliancing, for example, in the rail sector) is a broad term used to describe a collaborative management approach that encourages openness and trust between parties to a contract.It is most commonly used on large, long-term or high-risk contracts.
Types of Partnership General Partnership, Limited Partnership, Limited Liability Partnership and Public Private Partnership.
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.
The purpose of a partnership agreement is to protect the owner's investment in the company, govern how the company will be managed, clearly define the rights and obligations of the partners, and determine the rules of engagement should a disagreement arise among the parties.
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.
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.
Partnerships can be complex depending on the scope of business operations and the number of partners involved.A partnership agreement is the legal document that dictates the way a business is run and details the relationship between each partner.