When forming a new partnership, be it limited or limited liability, it is often a good idea to draft a binding agreement that will dictate the manner in which the entity’s internal affairs are to be managed. Here, the logistical and financial organization of your entity can relayed in black and white to provide clarity in the case of a future legal dispute. This will often serve as the only definitive proof of the relationship between each general partner and the entity thus providing a clear guide of each individual’s rights and responsibilities. To learn more, simply click on either the MS Word or the Adobe PDF link above by the title or below on the image and review the free template yourself with the assistance of an attorney.