Kentucky Model Partnership Agreement

State:
Multi-State
Control #:
US-L0805A
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

This document is a 44-page model partnership agreement for a law firm. It covers, among other things, duties of partners, management, operational matters, distributions, capital, changes as to partners, and dissolution.

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FAQ

The Partnership shall commence as of the date of the execution of this Agreement and shall continue thereafter for a term of __________ years, unless sooner dissolved and terminated by agreement of the Partners; provided, however, that the Partnership shall not be terminated by the bankruptcy, insolvency, appointment ...

This deed of partnership is made on [Date, Month, Year] between: [First Partner's Name], [Son/Daughter] of [Mr. Father's Name], residing at [Address Line 1, Address Line 2, City, State, Pin Code] hereinafter referred to as FIRST PARTNER. [Second Partner's Name], [Son/Daughter] of [Mr.

Steps to Create a Kentucky General Partnership Determine if you should start a general partnership. Choose a business name. File a DBA name (if needed) Draft and sign partnership agreement. Obtain licenses, permits, and clearances. Get an Employer Identification Number (EIN) Get Kentucky state tax identification numbers.

A written partnership agreement should show the following to avoid confusion and disagreements: The name of your business. The contributions of each partner and the percentage of ownership. Division of profits and losses between the partners.

5 Key Elements in a Partnership Agreement The Basics. ... Rules and Responsibilities. ... Financial Issues. ... Partners and Staff. ... Issues Involving Key Decisions.

Use the following steps to draft a partnership agreement: Outline Partnership Purpose. ... Document Partner's Name and Business Address. ... Document Ownership Interest and Partner Shares. ... Outline Partner Responsibilities and Liabilities. ... Consult With a Lawyer.

This deed of partnership is made on [Date, Month, Year] between: [First Partner's Name], [Son/Daughter] of [Mr. Father's Name], residing at [Address Line 1, Address Line 2, City, State, Pin Code] hereinafter referred to as FIRST PARTNER. [Second Partner's Name], [Son/Daughter] of [Mr.

The partnership agreement spells out who owns what portion of the firm, how profits and losses will be split, and the assignment of roles and duties. The partnership agreement will also typically spell how out disputes are to be adjudicated and what happens if one of the partners dies prematurely.

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Kentucky Model Partnership Agreement