Partnership Agreement: A Fair Contract that Makes You Dare To Start a New Business

Partnership Agreement

Partnership Agreement

Business has a tight relationship to the advantageous and disadvantageous. Both will give a big effect on the condition of the financial. Do not be afraid and face anything ahead. Save your business with a partnership agreement. It is a contract between two people or more who want to operate or manage the business together. In personal, each partner has an obligation and responsibility. You both will share some of the profits and losses. Actually, the agreement is fair because you will not bear it all. Okay, make your partner agreement expand your goal.

About Partnership Agreement That You Never Know In Detail

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If you are a newcomer in business, you must understand all the subtleties of this contract. So, you will be able to create a professional letter. The agreement letter must explain about:

  • Income tax is only 1 time
  • Individual responsibility
  • Distribution
  • Ownership
  • Regulations
  • Preparation for doing business
  • Work plan
  • Protection of each partner
  • Clear communication
  • Important basics in running a business

The Coverage of the Agreement Letter or Document

To make this contract, you have to insert some points such as:

  1. The official partnership name is under legal protection
  2. Objectives of the Partnership
  3. Partner information
  4. Capital contribution
  5. Ownership interests
  6. Profit / Loss Distribution
  7. Management and voting requirements
  8. Addition and withdrawal of partners
  9. Dissolution of partnership
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You must give a short description to each point above. Make it clear, detail, and honest so that not the party that gets a unilateral loss. By the way, the contract describes the role of company management. After the process of making the partnership agreement is complete, all parties must provide a sign and date of the Agreement. Then, each must keep a copy of the Agreement for he or she records. If you want to change one of the conditions in the agreement, they must be sure to do it in writing.

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