Question and answer
What key terms would you as a prospective partner require in a partnership agreement?
A partnership agreement will provide a written structure for your business clearly setting out each partner's responsibilities, rights, profit/liability sharing, rules relating to business entry and exit, [ and also the terms on which disputes are resolved and the partnership can be terminated.Key areas to cover in your partnership agreement include: a) ownership interests, taking into account
any cash, assets, loans or investments made by individual partners b} salaries and compensation: how will profits or losses be allocated? c} how the partnership will be managed d) each partner's specific responsibilities within the business, and what level of performance is expected from them e) whether partners expected to make a full-time commitment to the venture, or are permitted involvement in other business activities f) what processes should be followed if one partner wants to leave the partnership or a new partner is admitted g) whether partners will be allowed to sell their interests in the business to outsiders and, if so, how will their share be valued h) on what grounds a partner can be expelled from the partnership (e.g. misconduct, non-performance of duties) ]
Expert answered|bongche|Points 1036|
Question
Asked 2/26/2012 7:57:51 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
21,966,386 questions answered
Popular Conversations
The etymology of a word is sometimes reflected in its ...
Weegy: Have a great day! Ask Weegy again soon User: The transition word(s) that would best introduce an example ...
8/31/2015 6:25:44 AM| 2 Answers
Find the value of 83 - [59 - (22 - 18)].
Weegy: 83 - (59 - (22 - 18)) =83 - (59 - 4) =83 - 55 =28 User: Find the value of 5 · 2 ^3
8/31/2015 8:28:09 AM| 2 Answers
Find two consecutive integers whose sum is 67. Which of the ...
Weegy: To find two consecutive integers whose sum is 67 use the equation 2x + 1= 67 2x + 1= 67 2x = 67 - 1 2x = ...
8/31/2015 9:51:16 AM| 2 Answers
The ____ is the layer of the atmosphere nearest to Earth's ...
Weegy: Some scientists hypothesize that Earth's ozone layer is being damaged by chlorofluorocarbons. User: a gas ...
8/31/2015 10:33:27 AM| 2 Answers
The sum of two consecutive odd integers is -72 What is the larger ...
Weegy: The larger integer is -135 User: The sum of two consecutive even integers is -34 What is the smaller integer?
8/31/2015 10:38:43 AM| 2 Answers
Weegy Stuff
S
L
L
P
1
Points 27 [Total 9337]| Ratings 1| Comments 17| Invitations 0|Offline
S
Points 20 [Total 325]| Ratings 0| Comments 20| Invitations 0|Offline
S
Points 19 [Total 803]| Ratings 0| Comments 19| Invitations 0|Offline
S
Points 9 [Total 197]| Ratings 0| Comments 9| Invitations 0|Offline
S
Points 3 [Total 227]| Ratings 0| Comments 3| Invitations 0|Offline
S
1
L
L
P
R
Points 2 [Total 9325]| Ratings 0| Comments 2| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
S
Points 0 [Total 0]| Ratings 0| Comments 0| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.