Take part in behaviour that could affect PARTNERSHIP`s activities. The distribution of profits and losses is entirely based on the percentage of start-ups. However, if the partner partner wants to use another percentage, they should mention it in the. In addition, partners must also decide who makes the decisions. Partners must be held accountable for deciding small or large decisions. 50% off the business creation – Business Center in Dubai South read more> One of the most important things in any agreement is to write the name of the partnership company. You can choose the name of the company based on your name, z.B. Wesson and Smith. You can either use your last name or accept a fictitious company name like Smith Home Repairs, but before choosing a name for your partnership business, you need to make sure that the company name is not already used by another company. Make sure this helps you easily register the company name without any problems, or otherwise you can get stuck in the process. Now that you have mentioned the capital contribution, you need to identify the ownership of the partnership. The real estate acquired by the partnership transaction is exclusively part of the partnership activity and partners can only use them for commercial purposes. You have to make that clear in the pact.

PandaTip: The purpose of this section is to determine who will ensure the day-to-day operation of the specific functions of the partnership. Often it is a person who is declared “responsible,” but at other times it can be a committee of people. You should tailor the Administration section to your individual needs. A partnership contract is a legally binding contract that exists between partners related to the control and management of the company. This contract governs the partners` duties and activities; it provides details on a partner`s contribution, the relationship between partners and the control of partners, to name a few. A lawyer can help develop a partnership contract to resolve relationships between the company`s partners. If a partner problem causes problems between all of you, do you go to court immediately or solve it on your own? The dispute resolution decision must also be mentioned in the agreement, so that things can be resolved in the future. At first, everyone is on his best behavior, in life and wants to impress the other, the sky is always blue, and everything is pink without problems and carefree. This applies until the first challenge, because if we are under pressure, we will be revealed ourselves and we cannot pretend that nothing is wrong. In a marriage, there are compromises and understanding, and you work together to overcome things.