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Remember that it`s business – it involves personal relationships, but it`s a business and there are things to do. Your partnership contract is a contract between you and your partners on the “rules of engagement” in business. And in addition, if everything is really hunky dory and legitimate, the writing of contracts and the necessary papers to cover oneself will only be by for the course. Partnership contracts are legally binding between the shareholders of a company. They were created to deal with any type of situation that could lead to confusion, disagreement or change. A well-designed agreement, drawn up at the beginning of a partnership, is essential to the smooth running of business. A well-planned, established and discussed partnership contract will protect you, your partners and your assets in case the partnership fails. Each of Australia`s states and territories has its own Partnership Act, the provisions of which, unless differentiated or rejected by a partnership agreement, may put their partners in unexpected situations. Sign up for a free business partnership training and understand the topics to discuss and document with your partners. If you sign up (and already have a company name or NBA), you can get the partnership model and course for free! Compared to a company or a Treuhand, a partnership may have lower installation and management costs. Companies and trusts certainly offer some liability protection, but no partnership. Free training videos, manuals and templates More information & presentation Compared to a company or trust, a partnership may have lower installation and management costs.
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