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Is it necessary to develop a partnership agreement?

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  • Is it necessary to develop a partnership agreement?

    Partnership agreement is the key to keep business on track although it is not necessary.

    It is a common practice that when two or more people work together, they are generally more concerned with their ideas, innovations and creative directions, rather than their legal status. However, it is important to consider and resolve the rights, roles and responsibilities of each member of the partnership in writing before a misunderstanding or dispute arises. Written agreement helps in this regards.

    Remember a solid partnership should be founded on good communication.
    Business documents filings in all 50 States. http://www.infotaxsquare.com

  • #2
    Re: Is it necessary to develop a partnership agreement?

    It's so often said that partnerships are formed only to be broken. Regardless, while everybody is happy and talking to each other, you MUST decide what is going to happen when the partners are NOT talking to each other. I wouldn't get involved with anyone (even family) without an agreement in hand.

    Good luck and hope this helps!
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