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