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Explainer – simple and understandable definitions for complex and new things. The Mochadocs Explainers help in simplifying contract lifecycle management topics so that anyone can understand them easily. Our explainers may come in different sorts, such as eBooks, articles, Podcasts, and more.

What is a Partnership Agreement

Reading time: 10 minutes

Quiz time: 3 minutes

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A Partnership Agreement is a legal document that sets out the terms and conditions of entering into a partnership by parties involved. Partnership is one business organization that involves partners in managing their mutual enterprise to make profit. This is a basic document which sets our the basis upon which the partners work together.

It’s important to have a comprehensive partnership agreement that specifies duties, powers, and interests of partners while minimizing possible conflicts and differences. Whereas constructing a Partnership Agreement can be quite delicate, it would usually be recommendable to seek advice from a lawyer, or other qualified personnel who know all applicable laws and legislations as well as what may entail or encapsulate each party’s interests.

We give you information about common and unusefull clauses in Partnership Agreements . We take a dive into what could go wrong with partnership agreements. And there's a quiz!