Those who have just finished filing for the formation of a partnership should seriously consider drafting a partnership agreement to delineate the relationship between the partners and the partnership. In this document you will be able to establish the initial capitalization of each general partner, the number of meetings, the allocation and distribution of assets upon dissolution and the manner in which the company shall be managed. It is not required by law to draft a partnership agreement although it will greatly ameliorate the company’s organization and will enable you to avoid confusion when internal conflicts occur. We recommend that you download and review our template (available in MS Word and Adobe PDF formatting) with your attorney before supplying the necessary information into the empty fields and filing it with each general partner.