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Attorney Sarah Holmes from Holmes Business Law PC addresses common questions about partnerships. She highlights the risks of not having an operating agreement, buy-sell agreement, or shareholder agreement. Without proper documentation in a business partnership, the dissolution process is governed by state default rules for the business entity. For instance, in Pennsylvania, if an LLC is established without an operating agreement, state statutes dictate the outcomes by default, which often may not align with the partners' intentions or interests. Holmes emphasizes the importance of having these agreements to prevent undesirable consequences in partnership disputes.