New York Partnership

Take the partnership agreement and the partnership form to your secretary of state's office. You can usually submit the form in person or via mail or fax, but be sure to confirm delivery.

The three (3) final stages of a partnership are: (1) dissolution; (2) winding-up; and (3) termination.

Name of your partnership. Contributions to the partnership and percentage of ownership. Division of profits, losses and draws. Partners' authority. Withdrawal or death of a partner.

A general partnership must satisfy the following conditions: The partnership must minimally include two people. All partners must agree to any liability that their partnership may incur. The partnership should ideally be memorialized in a formal written partnership agreement, though oral agreements are valid.

Choose a business name. File a fictitious business name. Draft and sign a partnership agreement. Obtain licenses, permits, and zoning clearance. Obtain an Employer Identification Number.

Share the same values. Choose a partner with complementary skills. Have a track record together. Clearly define each partner's role and responsibilities. Select the right business structure. Put it in writing. Be honest with each other.

Choose a business name for the partnership and check for availability. Register the business name with local, state, and/or federal authorities. Negotiate and execute a partnership agreement. Obtain any required local licenses.

Preferably, you should prepare this document with the assistance of an attorney. The cost to have an attorney draft a partnership agreement can vary between $500 and $2,000 depending on the complexity of the partnership arrangement and the experience and location of the attorney.

Choose a business name. Register a fictitious business name. Draft and sign a partnership agreement. Comply with tax and regulatory requirements. Obtain Insurance.