How do I draft a partnership agreement?

How do I draft a partnership agreement?

Drafting a partnership agreement involves outlining the roles, responsibilities, and profit-sharing of each partner. Would you like a template?

Yes, please provide a template.

Here's a basic template: 1. Title 2. Introduction 3. Partner Information 4. Roles and Responsibilities 5. Profit Sharing 6. Dispute Resolution 7. Signatures. Would you like to go into detail on any section?

Can you explain the profit-sharing section?

Sure! The profit-sharing section should specify how profits will be divided among partners, whether it's equal or based on investment. It's important to be clear to avoid disputes later.

What if one partner wants to leave?

In that case, the agreement should include a buyout clause, detailing how the departing partner's share will be valued and transferred. Would you like help drafting that?