What is a Partnership Agreement?
A Partnership Agreement is a document usually filed with local government or other regulatory agency as evidence of partnership registration. This document must be certified. The document states:
- The purpose for the entity.
- Indicates involved parties and ownership breakdown.
- The powers of the partners and other involved parties (voting, investing, etc.).
- If the general partner is a corporation or LLC, the corporation or LLC must submit the complete corporate documentation.
- The mode and form in which the business of the partnership is to be carried out.
- The mode and form in which changes to the internal regulations and/or structure of the partnership can be made.
- Proof of execution (signature and date of execution).
If the general partner is a corporation or LLC, the corporation or LLC must submit the complete corporate documentation.