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A partnership agreement is a contract among two or more parties engaged in a profit-driven business. It outlines the involved parties, the partnership's location, and the venue for resolving disputes. Typically, general partnerships share profits, liabilities, and management duties equally, although unequal distributions can be specified in the agreement. The partnership agreement may also include a non-compete clause for retiring or departing partners. It should accompany an official buy-sell agreement to facilitate the partnership's dissolution or preservation in case of death or divorce. For more information on partnership agreements, contact Nevada Corporate Headquarters at 1-800-508-1729.