Example Of A Written Partnership Agreement

19 Sep Example Of A Written Partnership Agreement

In the absence of an agreement clearly defining each partner`s share of profits and losses, a partner who contributed to a sofa for the office could end up making the same profit as a partner who contributed most of the money to the partnership. The contributing partner of the sofa could end in an unexpected windfall and a big tax bill. Any agreement between individuals, friends or families to start a business with profit creates a partnership….