General Partnership Agreement Template
Deciding to run a business with some of your friends means that you will need a general partnership agreement. It is a type of agreement that describes the rights, liabilities, responsibilities, and duties of the partnership included. Usually, a general partnership does not require formal filling when it is created by some parties agreed. But there are some obligations that come from the clauses written in the agreement signed and it is legal. The terms of the general agreement happen are it must be two or more people in the agreement; all parties must agree to the right, liabilities, responsibilities, and duties. There must also be a written agreement even though oral is okay.
Other Samples of General Partnership Agreement Form :
To write the agreement in the right form, you must make some section which describes all things needed in running a business. Partnership information contains the date of the agreement made, partnership’s name and address purposes, it is included partner information. Capital contribution where it describes cash, stocks, real estate, equipment, and others. Then, write profit and loss sharing. You can also write decision-making and management roles that explain the guidelines to handle it. Adding partnership checks and vacation days can be optional. You also must decide whether to use cash or accrual accounting. If all the steps are complete, before signing the partnership agreement, you can counsel to the legal counselor who takes care of its matter. To make it easier for you to download this template for free, we have provided a link at the bottom of this page.
General Partnership Agreement Template | Word – download