"Partnership Agreements: Strengthening Business Collaborations! π€π" π What is a Partnership Agreement? A Partnership Agreement is a legal document that outlines the terms of a partnership between two or more individuals or entities. It sets the groundwork for how the partners will operate, share profits and losses, and resolve disputes. This agreement is key to ensuring clarity, fairness, and mutual understanding in business partnerships. π€πΌ π Key Features of a Partnership Agreement: Roles and Responsibilities: Clearly defines the contributions, duties, and obligations of each partner. π§πΌ Profit and Loss Sharing: Specifies how profits and losses will be divided among the partners, based on their agreed contributions. π° Decision-Making Process: Outlines how decisions will be made, whether unanimously or by majority vote. π Dispute Resolution: Sets out a process for resolving disagreements and prevents potential conflicts. ⚖️ Exit Strategy: Details how partners can ...