What is a partnership agreement?

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Dmitriy Fomichenko, President, Sense Financial

@dfomichenko • 06/07/16 This answer was first published on 06/07/16. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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A partnership agreement represents a set of rules/terms under which two partners/groups/companies decide to conduct business, and it includes important details such as the percentage of ownership, distribution of profit/loss, and even a division of duties/powers among the two parties.

When starting a partnership, it is important to set an agreement in writing and define the terms as explicitly as possible.

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