It is highly recommended that the managing partners of your general, limited or limited liability partnership take the time to draft a partnership agreement. This document will allow you to delineate the nature of the relationship held between partners and the entity itself. It is essential that all applicable members comply with the agreement’s terms and conditions, and that they retain a copy once completed for their own personal filing. You will find that the contents of this contract will allow for the clarification of any provisions pertaining to the management and government of the internal affairs of the partnership which will include, but will not be limited to, the number of meetings held by partners, their individual capital contributions and the allocation of funds received by the entity. Below we’ve included a link for both Microsoft Word and PDF templates to aid in the drafting process.