You have new items in your feed. Click to view.
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.
27,217,407 questions answered
Weegy Stuff
S
Points 594 [Total 695] Ratings 0 Comments 594 Invitations 0 Offline
S
Points 540 [Total 540] Ratings 0 Comments 540 Invitations 0 Offline
S
P
P
L
P
Points 221 [Total 1539] Ratings 1 Comments 211 Invitations 0 Offline
S
R
Points 205 [Total 305] Ratings 1 Comments 145 Invitations 5 Offline
S
P
P
L
P
P
Points 163 [Total 1615] Ratings 1 Comments 153 Invitations 0 Offline
S
Points 30 [Total 40] Ratings 3 Comments 0 Invitations 0 Offline
S
Points 14 [Total 14] Ratings 1 Comments 4 Invitations 0 Offline
S
P
P
Points 14 [Total 744] Ratings 0 Comments 14 Invitations 0 Offline
S
Points 13 [Total 13] Ratings 1 Comments 3 Invitations 0 Offline
S
Points 11 [Total 11] Ratings 0 Comments 1 Invitations 1 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.