… and what partner candidates should know before they sign.
by marc rosenberg
how to bring in new partners
what is a partner agreement?
according to nolo.com, “a partner agreement spells out the rights and responsibilities of the firm’s owners. without one, firms will be ill-equipped to settle or avoid conflicts because if certain key passages are missing or written improperly, the courts will intervene in ways that the partners may not like. a partner agreement allows the firm’s partners to structure their business relationships with each other in ways that suit their desires, needs and preferences.”
more: six systems used to determine partners’ goodwill payments | how partner buyouts work | what buying in actually means | how partner and staff actions impact profits | nuts and bolts of mentoring staff | nine ways to measure staff performance on the path to partner | sixteen duties of a partner
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any post on partner agreements will have an obligatory paragraph like that. here is a more in-depth description that may be illuminating.
to read the full article
