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A partnership agreement is a contract between two or more parties involved in a business for profit. It outlines the parties, the location of the partnership, and dispute resolution venues. In general partnerships, profits, liabilities, and management duties are typically shared equally, but unequal distributions can be specified in the agreement. It may also include a non-compete clause for departing partners. Furthermore, it should be used alongside an official buy-sell agreement to assist with partnership dissolution or preservation in cases like death or divorce. For more information, contact Nevada corporate headquarters at 1-800-508-1729.
