New Jersey Partnership Agreement Attorneys
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A partnership agreement is a document signed by two or more individuals who agree to own and operate a business together. Although this agreement is not a legal requirement in New Jersey, it can protect you when forming a company. The more thorough your agreement, the better prepared you are for the unexpected. The New Jersey business lawyers at Reardon Anderson, LLC have decades of experience drafting partnership agreements and can help you safeguard your company's interests well into the future.
Interested in establishing a secure partnership for your business? Call our team at (732) 997-7749 today.
What Should Be Included in a Partnership Agreement?
A partnership agreement gives each person clarity on what they’re entitled to and what will happen if the partnership is ever dissolved. You and your partners can structure your agreement however you desire, but you should keep in mind the ultimate goals of your business.
Most partnership agreements cover all of the following:
- Name of the partnership
- Contributions to the partnership by each person
- Distribution of profits, draws, and losses
- Partners’ authority
- How decisions will be made
- Management duties
- The process of admitting new partners
- Withdrawal or death of a partner
- How disputes are resolved
A partnership agreement can also minimize the risk of time-consuming litigation. When each person signs the agreement, it becomes a contract and can be referred to at any time. Fortunately, you do have the option of changing certain aspects as needed.
Starting a business is always exciting, but there is much to consider. From the name of your company to how much you are willing to invest, every decision is equally important. If you and your business partners are ready to legally protect your collaboration, our firm is prepared to put you and your business on a trajectory for success.
Get in touch with our firm today to speak with a trusted New Jersey partnership agreement lawyer.
