The partnership agreement of an LP, or LLP, is a written or oral agreement that can be used to outline the general management of the business’s affairs. Although not required by law, it is still very advisable to internally file a written form of this agreement to avoid any confusion regarding the capitalization of each partner as well as their rights and liabilities. The form should also contain the principle office of the business, the partnership’s purpose, the number of annual meetings and any detail not already in the Certificate of Partnership. Feel free to use our free template linked below in both Adobe PDF and MS Word formatting to expedite your drafting process.
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