When to Use

  • You want to create a business agreement among two or more partners specifying their rights and responsibilities.
  • The partners need to agree on their respective ownership interests, capital contributions, and managerial duties.
  • You want to clearly define how important decisions will be made and how voting will be conducted.

Other Names for This Document

  • Business partnership agreement
  • General partnership contract
  • Note that a general partnership agreement is not the same as a joint venture agreement, a limited partnership agreement, and a limited liability limited partnership (LLLP) agreement.

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