Legal Advice on and Preparation of Partnership Agreements

The partnership initiative begins with the association of two or more people with an agreement to share the profit and loss equally. This labels the individuals as business partners and shareholders. Therefore it becomes crucial to follow a certain structure and abide by some rules that allow them to work in a flow. All of these are to be regularly maintained and recorded, which is what we at Pearson McKinsey do for our clients. 

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Partnership

There are different kinds of Partnerships, and we advise on the following types of partnerships:  

  1. Full-time Partnership
  2. Limited Partnership

We render our services in helping and creating agreements for the following things:

  • Beginning of the business 
  • Duration of the business
  • Partnership names
  • Locations of the business
  • Ownership of the propertyFinancial growth
  • Baking and financial requirements
  • Partner rules and obligatory structure
  • Leave policies
  • Meetings and management
  • Partner authority 
  • Retirement and Closure 

FAQs

What are partnerships in business?

A partnership business involves two or more people combining their resources to form a business and who agree to share risks, profits, and losses. 

What is the purpose of partnerships?

The purpose of partnerships is to establish a business entity through a legally binding contract between two or more people. 

What are the different kinds of partnerships?

There are three types of partnerships:

  1. General partnership 
  2. Limited partnership
  3. Limited liability partnerships