What is a Partnership Agreement & Why You Shouldn’t Start a Business Without It?

 What is a Partnership Agreement & Why You Shouldn’t Start a Business Without It?” 🤝💼

Client: “We’re starting a business together. Do we really need a partnership agreement? We trust each other!” 😇
Well… so did most business partners — until money came in! 😂💸

✅ What is a Partnership Agreement?
✔️ A legal document between two or more partners, defining roles, responsibilities, capital contribution, profit-sharing, and exit clauses.
✔️ Essential for all types of partnerships — traditional, LLP, or joint ventures.
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✅ Why You Need One:
📌 Clearly defines each partner’s role
📌 Prevents disputes over profit-sharing or decision-making
📌 Sets exit & dissolution terms
📌 Ensures legal protection in case of conflicts or breach
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✅ Key Clauses to Include:
🧾 Capital contribution
📈 Profit and loss distribution
📋 Duties & liabilities
🚪 Exit & dissolution mechanism
⚖️ Dispute resolution process
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🤣 “A handshake starts a business, but a partnership agreement keeps it from becoming a courtroom drama!” 🤝➡️⚖️😂

👉 Pro Tip: Always register your partnership deed and update it with every major business change.
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📢 Need a solid, tailor-made partnership agreement for your business? Lexis and Company has your back! 💼✍️

📞 Call: +91-9051112233
🌐 Website: https://www.lexcliq.com