Partnership Agreement

Partnerships are a common form of association of 2 or more persons for the purposes of carrying on of a business. While partnerships are quite often equal partnerships ie each partner having an equal share of the profits and losses of the business and equal voting rights this is not always the case. A written partnership agreement is advisable so that the partners can set out how they want the partnership to operate rather than leaving it to relevant legislation and case law to govern the partnership. (continued ...)