Many partnerships start on trust and end in dispute. A written agreement protects both the business and the relationship.
Key clauses
- Capital contributions by each partner
- Profit and loss sharing
- Roles and responsibilities
- Decision making and bank signatories
- Admission of new partners
- Exit and buyout terms
- Death or incapacity of a partner
- Dispute resolution
Registration
Partnerships can register a business name with URSB. Consider forming a company if you want limited liability.
This article is general information, not legal advice. Consult an advocate about your situation.
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