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Drafting and Filing An amendment to a partnership agreement is a legal document that includes specific information about the action, such as a statement that the amendment is made by unanimous consent, a statement that the undersigned agree to the amendment and an explanation of the amendment.
form limited partnership agreement to be used in connection with the formation of a private equity fund structured as a limited partnership. This Standard Document can be adapted for other investment structures or other purposes when formation of limited partnerships is desired.
The limited partnership agreement outlines the amount of risk each party takes along with the duration of the fund. Limited partners are liable for up to the full amount of money they invest, while general partners are fully liable to the market.
A limited partnership agreement helps protect your business into the future by outlining each partner's roles and responsibilities, as well as how they share in the business profits. You should use a limited partnership agreement if you want to form a limited partnership or formalize an existing limited partnership.