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Do-It-Yourself
Partnership Agreement Kit
This easy-to-use kit
enables you and your business associate(s) to draw up a written agreement
legally -- without the requirement or high expense of an attorney! Included
in this kit are fill-in-the-blank forms, and all of the instructions you
will need to create a valid partnership agreement. Also includes an optional
software version of the forms!
What Is A Partnership Agreement?
A partnership is an association of two or more persons for the purpose
of conducting business. Although the partnership can declare bankruptcy and
limit some liability, it is not normally regarded as a legal entity like a
corporation.
There Are Two Types Of Partnerships
-- the general partnership and the limited partnership.
In a general partnership, all partners share in both the profits and
responsibilities of the business. Unless otherwise spelled out in the
partnership agreement, each partner has one vote, no matter how much he has
contributed to the business. A general partnership is the most popular
partnership.
A limited partnership is an arrangement where a person or company
invests in an unincorporated business and still gains limited liability
protection. However, they do not possess any management powers. (The legal
documents in this kit have been designed for a general partnership only.)
A partnership begins with an agreement, which can be spoken, written or
simply a matter of understanding. Good friends who decide to form a
partnership may not feel it necessary to reduce their arrangements to
writing. However, experience proves that it makes sense to draw up an
agreement. Any point that is covered in the partnership agreement is subject
to state law.
If you decide that a Partnership Agreement is what your business
requires, this kit will make the process simple, quick and easy.
How Current is This Publication?
Many states change their laws and requirements several
times a year. That's why we update this kit on a monthly basis if needed.
Other publishers update theirs once every 1 to 3 years. We are also the only
publisher to offer you a money-back guarantee that our kit will truly work
for you. We feel our kit is the best available - it's the easiest, most
up-to-date and guaranteed. What more could you ask for?
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