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Partnership Agreement
Short Form
$24.50
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The Short Form Partnership Agreement covers standard
issues encountered in most partnership situations,
and insures that the respective partners put in
writing the terms of their understanding.
The Short Form Agreement covers these issues.
This is an example of a Short Form Partnership Agreement.
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Long Form Partnership Agreement
$29.50
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The Long Form Partnership Agreement covers all
basic aspects found in the Short Form, but includes
provisions for additional capital contributions,
loans, and Rights of First Refusal.
The Long Form Agreement covers these issues.
This is an example of a Long Form Partnership Agreement.
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Limited Partnership Agreement
$29.75
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The Limited Partnership Agreement is provided for
use by attorneys and
others experienced in securities matters. The Limited
Partnership Agreement covers these issues.
This is an example of a Limited Partnership Agreement.
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LLC Operating Agreement
$29.65
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The Limited Liability Company Operating Agreement is
a standard form Operating Agreement which covers the
affairs of the LLC. It is similar to a Partnership
Agreement, except for use with LLCs. This form
pre-supposes some knowledge of partnerships and/or
LLCs.
This is an example of a LLC Operating Agreement.
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Dissolution of General Partnership - Short Form
$19.75
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This short form dissolution agreement can be used for small partnerships that have been formed for any conceivable types of endeavors. For larger businesses (i.e., sales of several hundred thousand dollars or more), we recommend the Long Form Partnership Dissolution Agreement.
This is an example of a Short Form Partnership Dissolution Agreement in PDF format.
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Dissolution of General Partnership - Long Form
$27.95
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This General Partership Dissolution Agreement contains the
standard terms and conditions required for the dissolution of a
partnership. This long form is appropriate for most medium to larger partnerships, and covers the standard issues to legally and properly wind up the partnership affairs.
This is an example of a Long Form Partnership Dissolution Agreement in PDF format.
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Spousal Consent
FREE
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A consent by the spouse of a person
who signs a contract which affects
legal and/or property rights of that spouse.
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What is a Partnership?
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A partnership is two or more persons engaging in
business together. Unless specifically set up as a
Limited
Partnership, a partnership is a General
Partnership, in which all partners are liable for the
entire debts and
obligations of the Partnership. This is called
joint and several liability
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Do We Need a Written Contract?
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A written contract is not required to form a
Partnership. A verbal agreement is enforceable.
However, a contract in writing is highly
recommended to (i) make sure the parties agree on basic
partnership terms, and (ii) keep a record of the
agreement to settle future disagreements. (It is
difficult to
prove, 5 years later, that you and your partner
agreed the
$25,000 you invested was really a loan at 10%
interest.)
Also, most people have selective memory - that is,
over time, they start
remembering the facts to their favor. After a few
years the
partners will honestly remember their original
agreement differently, in their respective favor.
Pulling out
the Partnership Agreement will help restore memories
and avoid
disputes and hurt feelings (and lawsuits).
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Standard Business Types
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Other than Partnerships and Limited Partnerships,
other business organizations are
Sole Proprietorships,
Joint Ventures,
Corporations, and
Limited Liability Companies.
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