plus what can happen if you don’t.
by marc rosenberg
partner agreement essentials
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 on partnership: protect your business with a solid partner agreement | how business entity type affects partner income | equity vs. non-equity partners | partner pay in retirement transition period | buyout: the flip side of buying in
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but most readers probably knew this definition, so it might not be very illuminating. let’s try this one.
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