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A partnership agreement is a contract between two or more parties engaged in a profit-driven business. It outlines the parties involved, the location of the partnership, and the venue for disputes. Typically, profits, liabilities, and management responsibilities are shared equally, though unequal distributions can be specified in the agreement. It may also include a non-compete clause for departing partners. Moreover, the partnership agreement should be paired with a buy-sell agreement to facilitate dissolution or maintain the partnership in cases of death or divorce. For more information, contact Nevada corporate headquarters at 1-800-508-1729.