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General Partnership Agreement

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This is an agreement that establishes a general partnership between two or more owners of a particular business. A general partnership allows the partners to actively participate in the partnership’s management activities, but will also expose the general partners to personal liability for the debts of the partnership. Additionally, a general partnership provides excellent tax benefits to its members. This agreement outlines the capital contributions, purposes and terms, accounting, termination, dissolution and winding up of the partnership. This document should be used by two or more owners of a business that want to establish a general partnership.

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