The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PARTNERSHIP AGREEMENT Definition & Legal Meaning

Definition & Citations:

An express or implied agreement made between two or more parties, depicting their entry in to a for profit business and making them official partners. The agreement depicts the nature of business, their profit sharing ratio, the capital put up by each partner as well as their duties and responsibilities. A valid partnership might exist between partners without any partnership agreement.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.