Just as in marriage a prenuptial agreement could be effective prevention of protracted property disputes, a partnership contract or a joint venture agreement may dot the in joint investments. Parties to such a contract could be either a physical person, a legal entity, or a sole proprietor.
The Attorneys at Law “Bachynskyy and Partners” offers its services of preparation, expertise and support of the conclusion of a partnership agreement to:
– partners who have already invested in a business;
– persons who plan to establish a partnership in a business.
Since concluding partnership agreements is not a popular practice among Ukrainian entrepreneurs, our experience in concluding similar documents is significant. Friendship and mutual compatibility between business partners may change, but well-defined terms of an agreement are constants that under certain conditions may help to protect personal interests.
The partnership agreement consists of the following conditions:
- Conditions of entry into a partnership (particularly, how much each partner invests in a business);
- Possible reasons and conditions for leaving a partnership/dissolution of a partnership;
- Division of responsibilities among partners in business;
- Opportunities of partnership extension (as new partners may join the business);
- Principles of assessing results of work and partner`s achievements;
- Division of profits and losses;
- Procedure for dispute resolution.