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What is Partnership Startup Guide and Considerations about?

This document outlines key questions and considerations for joining an existing partnership. It discusses determining the terms of the partnership agreement, the roles and financial interests of existing partners, how decisions are made, and how disputes would be resolved. It also covers the legal responsibilities and implied duties of partners, such as joint and several liability for debts and a duty of good faith. Finally, it notes the process and costs for drafting a formal partnership agreement.

Author

law4

Language

EN