The Wisconsin Amendatory Statement of Partnership Authority (WASP) is a document used in the formation of a partnership in Wisconsin. It is required for partnerships in Wisconsin that are formed from two or more partners. The WASP allows the partners to define their roles in the business and establish the basis for the partnership. The WASP also outlines the rights and responsibilities of the partners in the partnership. The document is filed with the Wisconsin Department of Financial Institutions. There are two types of WASP: the Short Form and the Long Form. The Short Form is used for simple partnership agreements and does not require a detailed description of the partners' duties and responsibilities. The Long Form is used when more detailed information is needed. The Long Form allows the partners to specify the rights and liabilities of each partner, as well as the control of the business. The WASP is an important document in setting up a partnership in Wisconsin, and must be filed with the Wisconsin Department of Financial Institutions in order to form a legally binding partnership.
Wisconsin Amendatory Statement of Partnership Authority
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