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A partnership agreement is a contract between two or more parties engaged in a business for profit, detailing the parties involved, the partnership's location, and dispute resolution. Generally, profits, liabilities, and management duties are divided equally, but unequal distributions can be specified in the agreement. It may also include a non-compete clause for retiring partners. Furthermore, a partnership agreement should be paired with a buy-sell agreement to facilitate partnership dissolution or preservation in cases of death or divorce. For more information about partnership agreements, contact Nevada corporate headquarters at 1-800-508-1729.