3.3PartnershipAgreementInformation2008

3.3PartnershipAgreementInformation2008 - Appendix 1:...

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Appendix 1: Partnership Agreement Information Below are some of the key areas you will want to cover in your written partnership agreement: Names and Basic Information What is the name of the partnership? Who is involved and where do they live? What is the business purpose of the partnership? What is the duration of the partnership? What is each partner's role? What is each partner's responsibilities within the company, and what level of performance is expected? Are partners expected to make a full-time commitment to the venture, or are business activities permitted? Contributions What will each partner be contributing to the partnership in terms of cash, assets, loans, investments, and/or labor? What will be the SALARY of each partner? (must be present) What is the INTEREST EARNED ON CAPITAL ? (must be present) What is the RATIO FOR THE REMAINING PROFITS OR LOSSES ? (must be present) Will profits and losses be allocated in proportion to a partner's percentage interest in the business? Partnership Decision-Making
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This note was uploaded on 09/01/2010 for the course BAT4M BAT4M taught by Professor Katz during the Fall '05 term at Acadia.

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3.3PartnershipAgreementInformation2008 - Appendix 1:...

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