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Partnership Agreement. by jideoloko(m): 5:27pm On Jul 02, 2020
Before you enter into any partnership agreement, there are things you must consider.
Few of them are outlined below:

1.The nature of business

2. Profit and loss sharing formula.

3.Whether the partnership business will be carry on in the true surnames or for names of the partners or you might decide to come up with some other name. If the business is carried on in the true for names or surnames of the partners, there might be no need to register with the Corporate Affairs Commission but if it is a derived, it is necessary you register with Corporate Affairs Commission.

4. Type of Partnership. You might decide to go with a general partnership structure or a Limited Partnership structure.

5. Quorum at meeting of partners and where there is a tie, steps taken to break the tie.

6. Expulsion of partners and steps to be taken to expel a partner.

You can reach out to me, to advice and help draft a partnership deed that can protect your interest.
Re: Partnership Agreement. by jideoloko(m): 6:31pm On Jul 03, 2020
Other things that should be consider in a partnership agreement:

What happens upon the death of partners.

What happens to the partnership assets, liabilities and goodwill upon dissolution of the firm.

Whether partners can carry on rival business with the partnership firm.

Resolution of dispute among partners

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