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hi this is john mcguire at the mcguire law firm and in this video im going to talk a little bit about partnership agreements so weve talked about forming partnerships and its amazing how many people will go into business a partnership with an individual or multiple individuals and they do not have this agreement in place when starting the business or soon after starting the business i always think its beneficial because everyone goes into business with the best intentions but as youve probably seen with other relationships in life theres many times where these partnerships do not work out and when you can refer to an agreement as opposed to just what each individual thinks or what the default law would be in the state of colorado i just think youre in a better position i think everyone has a better understanding from the get-go as to what their obligations are how they will be paid who is going to make decisions whos going to vote and so forth and thats really what a partnersh