General Partnership Agreement - 9825 Downloads

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General Partnership Agreement
File Size: 43 KB
Downloads: 9825
Uploaded on: 2015-11-15 19:14:00
File Name: General-Partnership-Agreement.docx
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A general partnership agreement is a legal form that states the expectations of two or more people entering into a financial or business partnership. This type of agreement basically states all of the aspects of forming a business with another person. The general partnership agreement covers everything from the distribution of profits, to the initial investments and the dissolution of the partnership. This agreement also helps to provide structure to a partnership and gives each partner an element of protection. The general partnership agreement focuses primarily on the wants and needs of both or all of the partners forming a business relationship. The general partnership agreement format should include the starting investments for all of the partners as well as the distribution of profits and losses from the company. This agreement needs to document the roles of each partner and include his or her responsibilities pertaining to the company. It should also line out what should happen if a partner wishes to leave the partnership or all of the partners choose to dissolve the partnership. This general partnership agreement sample pertains to the formation of a baking company between two partners. The agreement describes the roles of both of the partners within the company. It also lays out the various details concerning start-up investments, the division of profits, and the possibility of the partnership dissolving.

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