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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