Partnership Contracts?

Question

Where can I get a contract stating a partnership between two people?

Answer 1

business partnership? domestic partnership? political partnership?

Assuming you mean business, just write down in clear and concise English, exactly what both partners are going to invest, and how expenses and profits will be divided.

If you ever end up in court, the judge isn't going to care about the legal language, he's going to care that the agreement shows that there was a clear "meeting of the minds" - that both of you knew exactly what you were agreeing to.

Be as clear and detailed as you can. If one of you sues, any ambiguity is resolved in the favor of the defendant, so make sure there isn't any ambiguity.

You'd be AMAZED at how many people, when they sit down together to write out their agreement after discussing it verbally, find out that there are things they'd forgotten to agree on, and things that they didn't have the same understanding about.

A good agreement is the single most important thing that a partnership has. Too many people say "Oh, we don't need a written agreement, I trust him". It's not about trust - it's about making sure there's no misunderstanding BEFORE you start, not later when it's too late.

The agreement doesn't exist to act as evidence in court - it exists to keep you OUT of court in the first place.

Richard