General Partnership

General Partnerships also called GPs are a type of business entity that is made up of two or more people or legal entities that together engage in a business or carry on a trade. Each partner contributes money, property, labor, or special skills and each partner shares in the profits and losses from the business. This type of business entity can be entered into either by written agreement or oral agreement. It is highly recommended that all General Partnerships have some sort of Written Agreement such as a Joint Venture Agreement or a Partnership Agreement which outlines the specifics of the General Partnership.

Let Legal Dox take all of the guesswork out of having to form your General Partnership.

For the cost of about $500.00, we can prepare a valid and legally binding Agreement for all of the General Partners to sign that will keep the confusion and issues that cause problems between partners, out of the partnership.

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