Pennsylvania Partnership Agreement

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Pennsylvania Partnership Agreement Powered By Docstoc
					                                                                 Partnership Agreement

                          This Partnership Agreement is a voluntary contract between two or more
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                          persons (usually called “Partners”) to place their capital, labor, skills, and
                          corporation in business with the understanding that there will be a sharing of
                          the profits and losses between them.

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                                PARTNERSHIP AGREEMENT

 THIS PARTNERSHIP AGREEMENT (hereinafter “Partnership”) is made as of ____ [Month]
____ [Date], 20____, by and between ___________________ [Instruction: Insert the name of
1st party], residing at _______________________ [Instruction: Insert the address of 1st
party],      ________________________             [Instruction:      Insert   the County],
________________________ [Instruction: Insert the State] and ___________________
[Instruction: Insert name of 2nd party], residing at _________________________
[Instruction: Insert address of 2nd party], ________________________ [Instruction: Insert
the County],. ________________________ [Instruction: Insert the State]. Both the parties
may individually be referred to as “Partner”, or, collectively as “Partners”.

1. Nature of Business.

   The Partners listed above hereby agree that they shall be considered Partners in business for
   the following purpose:


   [Instruction: Insert the nature/purpose of business to be conducted.]

2. Name.

   The Partnership shall be conducted under the name of ________________________
   [Instruction: Insert the name under which the Partnership shall be conducted] and shall
   maintain offices at:

   [Instruction: Insert the address of the principal office where the business shall be
   conducted along with City, State, and Zip.]

3. Day-To-Day Operation.

   The Partners shall provide their full-time services and best efforts on behalf of the
   Partnership. No Partner shall receive a salary for services rendered to the Partnership. Each
   Partner shall have equal rights to manage and control the Partnership and its business.
   Should there be differences between the Partners concerning ordinary business matters, a
   decision shall be made by unanimous vote. It is understood that t
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Description: This Partnership Agreement is a written document that explicitly details the relationship between the business partners and their individual obligations and contributions to the partnership. The agreement states the nature of the business, the partners' capital contributions and the management duties and restrictions of each partner. It contains many of the standard provisions that are commonly included in partnership agreements, and may be customized to address the specific needs of the partners. This document should be used when forming a partnership located in Pennsylvania.
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