Small Business Partnerships

At the SBDC, we frequently find that partners run into disagreements with each other at one time or another. We strongly recommend a partnership agreement early in the relationship that spells everything out. A good partnership clearly states ownership percentages, how salaries and withdrawals will be handled, what happens when one partner wants out, an agreement on the method they will use to value the business and a succession clause in the case of disability or death.
Filed under: Certified Business Analyst, Partnership Agreement, Partnerships, Small Business Administration, Small Business Blog, UNF, USA Today by Small Business Resource Center Monday, October 5th, 2009