By signing below, the listed persons confirm that they are fully entitled to represent the partners in this Agreement and conclude this Small Business Partnership Agreement. A partnership agreement can be established either as a first step to outline the expectations and responsibilities of the partner before the partners start their joint activities, or after the partnership has already been in operation, if no partnership agreement has ever been concluded and the partners wish to codify or clarify the functioning of the partnership. Regardless of the date of elaboration of a partnership contract in the life of a partnership, the contract covers the following reason: after mentioning the capital contribution, you must identify the partnership ownership. The real estate acquired by the partnership company belongs exclusively to the partnership activity and may only be used by partners for commercial purposes. You must mention this clearly in the pact. It is a legal agreement between partners that unites them to achieve a common programme outcome through a defined strategy. In this type of agreement, partners declare that they share resources, responsibilities, risks and results. In addition, the agreement focuses on the budget and the plan. Where mentioned in the agreement, resources are shared among the partners to help them accomplish their tasks.

Under the agreement, both partners have specific capabilities and benefits to execute the roles. A well-developed and hermetic business partnership agreement clarifies the expectations, obligations and obligations of each partner. In the economy, things are constantly changing, so it is important to conclude a trade partnership agreement that can serve as a basis in times of turbulence or uncertainty. A business partnership agreement also serves as a guideline on how the company should grow and regulates the inclusion of new partners in the company. To make decisions between partners, you need to coordinate. Counterparties often decide business decisions together. This normally happens when partners have to choose an important and very important decision. They leave the small decisions to the different partners in their capacity. Therefore, your partnership agreement should determine on what basis the minor and most important business decisions will be made. You need to think carefully about these issues before making any important decisions. The document is an important foundational document for the management of a new business and serves to prepare the company for success by ensuring clear communication and defined responsibilities for all partners. This agreement documents both contingency plans in the event of failure and descriptions of the day-to-day operation of the partnership.

A partnership agreement protects all partners participating in the operation and all persons who intend to do business together should enter into a partnership agreement. A commercial partnership agreement is a legally valid document between two or more counterparties that defines the business structure, the responsibilities of each partner, the capital contribution, the ownership of the partnership, the ownership shares, the decision-making agreements, the process of selling or exiting a counterparty and the distribution of profits and losses by the remaining partner or other partners. . . .