How to Write a Partnership Agreement

Video Transcript

"You and a business associate want to go into business together as partners, and you've decided you need a partnership agreement. Hello, I'm Robert Todd, and I'm here to answer the question, how do I write a partnership agreement? Well first of all it's going to vary from state to state, because each state has its own respective laws regarding partners and partnership agreements. You may want to consider what your state requires, whether it is adopting the uniform partnership act, or whether it has adopted the revised uniform partnership act. So unless you have been involved in the drafting of a partnership agreement previously in your state, whether for yourself, or somehow you were associated with the drafting of such an agreement, you may want to strongly consider hiring a attorney that specializes in this area of drafting partnership agreements. They're very important with regards to what the respective rights of the partners are. I'm Robert Todd, and thank you for watching."