How to: structure a partnership agreement

1.     Give the business partnership a name and  let register  it.

2      State each partner’s required contribution to or investment in the partnership, and each partner’s percentage of ownership.

     Contributions may include

•    capital
•    assets
•    time or services

3      State each partner’s ability to control the partnership in terms of authority and decision-making power.

4     Create guidelines , that establish  the  roles for each partner.

5.    State the procedure for admitting new partners.

6    Write a section,  that provides details about handling disputes between or among the partners.

7   Write the rules,  that apply,  when a partner withdraws from the partnership in a buy-out plan.