About this document:
This partnership agreement is suitable for most partnership situations, whatever the business type. It matters not whether you are car salesmen, architects, cleaners, or accountants. It is less formal than many such agreements as it has been drafted specifically for family partnerships of any kind. Of course it can also be used between friends and other acquaintances, or simply where a formal, agreement does not quite suit.
It is very comprehensive and deals with all of the necessary provisions. Instead of being drawn in "short form", like many other template agreements on the Internet, this document gives you a full menu, from which can easily delete items you do not require. It deals particularly thoroughly with provisions following disagreement or dissolution because this is the area where partners are most likely to want to rely on the agreement.
The document is suitable for:
- two or more people wishing to set up business in partnership;
- a sole trader wishing to take in a partner to an existing business;
- family and friends wishing to go into business together.
Key features:
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very flexible to suit most situations;
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suitable for any type of business;
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calls for compliance with non-discrimination and other policies;
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suitable for partnerships of up to ten or more people;
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very extensive guidance notes.
Contents
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partnership shares;
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partnership property;
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duration;
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capital;
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profits and losses;
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drawings;
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meetings and voting;
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holidays and absence;
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cars and other partnership policies;
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accounts and records;
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restrictions to protect other partners;
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partnership policies;
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expulsion;
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comprehensive termination provisions to protect ongoing partners
