Description
This document is essential before entering any business partnership.
Covers:
- Partner names, roles, and capital contributions
- Ownership percentages and profit sharing
- Decision-making authority (equal vs. managing partner)
- Partner duties and time commitments
- Partner exit, buyout, and succession rights
- Non-compete and non-solicitation provisions
- Dissolution and wind-down procedures
Covers general partnerships, LLPs, and LLC member agreements.