Tag : Partnership

How to Write a Partnership Agreement (with Pictures), business partnership agreement.#Business #partnership #agreement


How to Write a Partnership Agreement

When you start a small business partnership, you should take time to write a partnership agreement. Outlining the details of the partnership can prevent future disagreements or lawsuits. The agreement can be as general or specific as you desire. However, a more detailed partnership agreement may prevent future disputes.

Steps Edit

Part One of Five:

Preparing to Write the Agreement Edit

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Part Two of Five:

Identifying the Partnership Edit

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Part Three of Five:

Assigning Ownership Interests, Powers, and Duties Edit

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement

Business partnership agreement




Partnership Agreement – Free Legal Form, business partnership agreement.#Business #partnership #agreement


PARTNERSHIP AGREEMENT

  • Professional MS Word & PDF formatting Business partnership agreementBusiness partnership agreement
  • Fully editable & reusable
  • Lifetime updates
  • Accuracy guarantee

This PARTNERSHIP AGREEMENT is made on ____________, 20__ between ________________________________ and ________________________________.

1. NAME AND BUSINESS. The parties hereby form a partnership under the name of ________________________________ to conduct a ________________________________. The principal office of the business shall be in _______________________.

2. TERM. The partnership shall begin on ________________, 20____, and shall continue until terminated as herein provided.

3. CAPITAL. The capital of the partnership shall be contributed in cash by the partners as follows: A separate capital account shall be maintained for each partner. Neither partner shall withdraw any part of his capital account. Upon the demand of either partner, the capital accounts of the partners shall be maintained at all times in the proportions in which the partners share in the profits and losses of the partnership.

4. PROFIT AND LOSS. The net profits of the partnership shall be divided equally between the partners and the net losses shall be borne equally by them. A separate income account shall be maintained for each partner. Partnership profits and losses shall be charged or credited to the separate income account of each partner. If a partner has no credit balance in his income account, losses shall be charged to his capital account.

5. SALARIES AND DRAWINGS. Neither partner shall receive any salary for services rendered to the partnership. Each partner may, from time to time, withdraw the credit balance in his income account.

6. INTEREST. No interest shall be paid on the initial contributions to the capital of the partnership or on any subsequent contributions of capital.

7. MANAGEMENT DUTIES AND RESTRICTIONS. The partners shall have equal rights in the management of the partnership business, and each partner shall devote his entire time to the conduct of the business. Without the consent of the other partner neither partner shall on behalf of the partnership borrow or lend money, or make, deliver, or accept any commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or contract to purchase, or sell or contract to sell any property for or of the partnership other than the type of property bought and sold in the regular course of its business.

8. BANKING. All funds of the partnership shall be deposited in its name in such checking account or accounts as shall be designated by the partners. All withdrawals are to be made upon checks signed by either partner.

9. BOOKS. The partnership books shall be maintained at the principal office of the partnership, and each partner shall at all times have access thereto. The books shall be kept on a fiscal year basis, commencing _____________________ and ending _____________________, and shall be closed and balanced at the end of each fiscal year. An audit shall be made as of the closing date.

10. VOLUNTARY TERMINATION. The partnership may be dissolved at any time by agreement of the partners, in which event the partners shall proceed with reasonable promptness to liquidate the business of the partnership. The partnership name shall be sold with the other assets of the business. The assets of the partnership business shall be used and distributed in the following order: (a) to pay or provide for the payment of all partnership liabilities and liquidating expenses and obligations; (b) to equalize the income accounts of the partners; (c) to discharge the balance of the income accounts of the partners; (d) to equalize the capital accounts of the partners; and (e) to discharge the balance of the capital accounts of the partners.

11. DEATH. Upon the death of either partner, the surviving partner shall have the right either to purchase the interest of the decedent in the partnership or to terminate and liquidate the partnership business. If the surviving partner elects to purchase the decedent’s interest, he shall serve notice in writing of such election, within three months after the death of the decedent, upon the executor or administrator of the decedent, or, if at the time of such election no legal representative has been appointed, upon any one of the known legal heirs of the decedent at the last-known address of such heir. (a) If the surviving partner elects to purchase the interest of the decedent in the partnership, the purchase price shall be equal to the decedent’s capital account as at the date of his death plus the decedent’s income account as at the end of the prior fiscal year, increased by his share of partnership profits or decreased by his share of partnership losses for the period from the beginning of the fiscal year in which his death occurred until the end of the calendar month in which his death occurred, and decreased by withdrawals charged to his income account during such period. No allowance shall be made for goodwill, trade name, patents, or other intangible assets, except as those assets have been reflected on the partnership books immediately prior to the decedent’s death; but the survivor shall nevertheless be entitled to use the trade name of the partnership. (b) Except as herein otherwise stated, the procedure as to liquidation and distribution of the assets of the partnership business shall be the same as stated in paragraph 10 with reference to voluntary termination.

12. ARBITRATION. Any controversy or claim arising out of or relating to this Agreement, or the breach hereof, shall be settled by arbitration in accordance with the rules, then obtaining, of the American Arbitration Association, and judgment upon the award rendered may be entered in any court having jurisdiction thereof.

Executed this ______________ day of _________________, 20_____ in _____________________ [city], _____________________ [state].




Creating a Partnership Agreement, business partnership agreement.#Business #partnership #agreement


Creating a Partnership Agreement

Business partnership agreement Business partnership agreement

If you and your partners don’t spell out your rights and responsibilities in a written partnership agreement, you’ll be ill-equipped to settle conflicts when they arise, and minor misunderstandings may erupt into full-blown disputes. In addition, without a written agreement saying otherwise, your state’s laws will control many aspects of your business.

How a Partnership Agreement Helps Your Business

A partnership agreement allows you to structure your relationship with your partners in a way that suits your business. You and your partners can establish the shares of profits (or losses) each partner will take, the responsibilities of each partner, what will happen to the business if a partner leaves, and other important guidelines.

The Uniform Partnership Act

Each state (with the exception of Louisiana) has its own laws governing partnerships, contained in what’s usually called “The Uniform Partnership Act” or “The Revised Uniform Partnership Act” (or the “UPA” or “Revised UPA”). These statutes establish the basic legal rules that apply to partnerships and will control many aspects of your partnership’s life unless you set out different rules in a written partnership agreement. (To find your state’s partnership statutes, see Nolo’s State Law Resources Legal Research page.)

Don’t be tempted to leave the terms of your partnership up to these state laws. Because they were designed as one-size-fits-all fallback rules, they may not be helpful in your particular situation. It’s much better to have an agreement in which you and your partners state the rules that will apply to your business.

What to Include in Your Partnership Agreement

Here’s a list of the major areas that most partnership agreements cover. You and your partners-to-be should consider these issues before you put the terms in writing:

  • Name of the partnership. One of the first things you must do is agree on a name for your partnership. You can use your own last names, such as Smith Wesson, or you can adopt and register a fictitious business name, such as Westside Home Repairs. If you choose a fictitious name, you must make sure that the name isn’t already in use and then file a fictitious business name statement with your county clerk. For more information, see Nolo’s article Registering Your Business Name.
  • Contributions to the partnership. It’s critical that you and your partners work out and record who’s going to contribute cash, property, or services to the business before it opens — and what ownership percentage each partner will have. Disagreements over contributions have doomed many promising businesses.
  • Allocation of profits, losses, and draws. Will profits and losses be allocated in proportion to a partner’s percentage interest in the business? Will each partner be entitled to a regular draw (a withdrawal of allocated profits from the business) or will all profits be distributed at the end of each year? You and your partners may have different financial needs and different ideas about how the money should be divided up and distributed, so this is an area to which you should pay particular attention.
  • Partners’ authority. Without an agreement to the contrary, any partner can bind the partnership (to a contract or debt, for example) without the consent of the other partners. If you want one or all of the partners to obtain the others’ consent before obligating the partnership, you must make this clear in your partnership agreement.
  • Partnership decision making. Although there’s no magic formula or language for making decisions among partners, you’ll head off a lot of trouble if you try to work it out beforehand. You may, for example, want to require a unanimous vote of all the partners for every business decision. Or if that leaves you feeling fettered, you can require a unanimous vote for major decisions and allow individual partners to make minor decisions on their own. In that case, your partnership agreement will have to describe what constitutes a major or minor decision. You should carefully think through issues like these before you and your partners have to make important decisions.
  • Management duties. You might not want to make ironclad rules about every management detail, but you’d be wise to work out some guidelines in advance. For example, who will keep the books? Who will deal with customers? Supervise employees? Negotiate with suppliers? Think through the management needs of your partnership and be sure you’ve got everything covered.
  • Admitting new partners. Eventually, you may want to expand the business and bring in new partners. Agreeing on a procedure for admitting new partners will make your lives a lot easier when this issue comes up.
  • Withdrawal or death of a partner. At least as important as the rules for admitting new partners to the business are the rules for handling the departure of an owner. You should set up a reasonable buyout scheme in your partnership agreement. To learn more about this issue, read Nolo’s article Plan Ahead for Changes in Partnership Ownership.
  • Resolving disputes. If you and your partners become deadlocked on an issue, do you want to go straight to court? It might benefit everyone involved if your partnership agreement provides for alternative dispute resolution, such as mediation or arbitration.

Next Steps

As you can see, there are many issues to consider before you and your partners open for business — and you shouldn’t wait for a conflict to arise before hammering out some sound rules and procedures. A good self-help book, such as Form a Partnership: The Complete Legal Guide, by Denis Clifford and Ralph Warner (Nolo), can help you think through the details and put them in writing.




Trump Abandons Trans-Pacific Partnership, Obama’s Signature Trade Deal, partnership business.#Partnership #business


The New York Times

Partnership business

WASHINGTON — President Trump upended America’s traditional, bipartisan trade policy on Monday as he formally abandoned the ambitious, 12-nation Trans-Pacific Partnership brokered by his predecessor and declared an end to the era of multinational trade agreements that defined global economics for decades.

With the stroke of a pen on his first full weekday in office, Mr. Trump signaled that he plans to follow through on promises to take a more aggressive stance against foreign competitors as part of his “America First” approach. In doing so, he demonstrated that he would not follow old rules, effectively discarding longstanding Republican orthodoxy that expanding global trade was good for the world and America — and that the United States should help write the rules of international commerce.

Although the Trans-Pacific Partnership had not been approved by Congress, Mr. Trump’s decision to withdraw not only doomed former President Barack Obama’s signature trade achievement, but also carried broad geopolitical implications in a fast-growing region. The deal, which was to link a dozen nations from Canada and Chile to Australia and Japan in a complex web of trade rules, was sold as a way to permanently tie the United States to East Asia and create an economic bulwark against a rising China.

The Run-Up

Instead, Mr. Trump said American workers would be protected against competition from low-wage countries like Vietnam and Malaysia, also parties to the deal.

But some in both parties worry that China will move to fill the economic vacuum as America looks inward, and will expand its sway over Asia and beyond.

Monday was a busy day for the new president. In addition to abandoning the trade deal, he ordered a freeze on federal government hiring, except for the military and other security agencies. He reinstituted a ban on federal funding for overseas family planning groups that assist or counsel women seeking abortions. He met with congressional, labor and business leaders. And he promised to cut up to 75 percent of federal regulations.

Mr. Trump’s decision to scrap the Trans-Pacific Partnership, or T.P.P., reversed a free-trade strategy adopted by presidents of both parties dating back to the Cold War, and aligned him more with the political left. When he told a meeting of union leaders at the White House on Monday that he had just terminated the pact, they broke into applause.

“We’re going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country, and it’s going to be reversed,” Mr. Trump told them, saying that from now on, the United States would sign trade deals only with individual allies. “I think you’re going to have a lot of companies come back to our country.”

Partnership business

Interactive Feature | What Is TPP? Behind the Trade Deal That Died On his first full workday in office, President Trump delivered on a campaign promise by abandoning the enormous trade deal that had became a flashpoint in American politics.

Mr. Trump may also move quickly to renegotiate the North American Free Trade Agreement. He is scheduling meetings with the leaders of Canada and Mexico, the two main partners in that pact, which was negotiated by President George Bush and pushed through Congress by President Bill Clinton. While Nafta has been a major driver of American trade for nearly two decades, it has long been divisive, with critics blaming it for lost jobs and lower wages.

But free-trade advocates said that in canceling the Pacific pact, Mr. Trump lost an agreement that had already renegotiated Nafta under more modern rules governing intellectual property, internet access and agriculture, since both Mexico and Canada were signatories. He also undercut Mr. Obama’s so-called pivot to Asia and, critics said, essentially ceded the field to China, which was not part of the agreement.

“There’s no doubt that this action will be seen as a huge, huge win for China,” Michael B. Froman, the trade representative who negotiated the pact for Mr. Obama, said in an interview. “For the Trump administration, after all this talk about being tough on China, for their first action to basically hand the keys to China and say we’re withdrawing from our leadership position in this region is geostrategically damaging.”

Some Republicans agreed, but only a few would publicly challenge the president. Senator John McCain of Arizona called the decision “a serious mistake” that would hurt America. “It will send a troubling signal of American disengagement in the Asia-Pacific region at a time we can least afford it,” he said in a statement.

The Obama administration negotiated the trade pact for nearly eight years. Speaker Paul D. Ryan and other congressional Republicans worked with Mr. Obama to pass legislation granting so-called fast-track authority to negotiate it over Democratic objections. But Mr. Obama never submitted the final agreement for approval amid vocal opposition.

The agreement, the largest regional trade accord ever, brought together the United States and 11 other nations in a free-trade zone for about 40 percent of the world’s economy. It was intended to lower tariffs while establishing rules for resolving trade disputes, setting patents and protecting intellectual property.

Obama officials argued that it benefited the United States by opening markets while giving up very little in return. In particular, it finally brought the United States and Japan, the world’s largest and third-largest economies, together in a free-trade pact.

Mr. Trump’s decision was crushing for Japan, where Prime Minister Shinzo Abe spent considerable political capital to get the agreement through Parliament, which ratified it Friday. Just hours before Mr. Trump dispensed with it, Mr. Abe told Parliament that Tokyo would lobby the new administration on the merits of the deal.

Interactive Feature | Get the Morning Briefing by Email What you need to know to start your day, delivered to your inbox Monday through Friday.

Japan was the last to join the pact, which would give its manufacturers tariff-free access to export markets in the United States and other Asian countries, but would bring its automakers into competition with lower-wage countries like Mexico. Mr. Abe became a strong enthusiast after making politically painful concessions on agricultural imports that the United States had sought.

China, by contrast, welcomed Mr. Trump’s move, although its leaders will probably relish the moment quietly. Given Mr. Trump’s harsh attacks on China and his appointment of a leading China critic, Peter Navarro, to the new post of trade council director, Beijing is bracing for a potentially combative relationship.

Victor Shih, an expert on China’s political economy at the University of California, San Diego, said withdrawing from the T.P.P. would alter America’s image in the region. “The U.S. will be seen as an unreliable partner both economically and perhaps even in the security arena,” he said. “While some countries in Asia have no choice but to be close to the U.S., others may begin to look to China.”

China has already sought to capitalize by making a push to complete an alternative pact, the Regional Comprehensive Economic Partnership, which aims to unite 10 members of the Association of Southeast Asian Nations with Japan, South Korea, Australia, New Zealand and India.

Australia’s trade minister, Steven Ciobo, said on Monday that other members of the trade pact were exploring whether to create a “T.P.P. minus one,” without the United States.

“The T.P.P. offers very material benefits for all parties that signed up for the agreement,” he said in an interview. “It would be a great shame to lose those benefits. Notwithstanding President Trump’s decision, there’s still a lot of merits to capturing those gains.”

If Mr. Trump scrambled coalitions overseas, he did so at home, too. Democrats and labor groups praised his move. James P. Hoffa, general president of the Teamsters union, said Mr. Trump had “taken the first step toward fixing 30 years of bad trade policies.” Lori Wallach, director of Public Citizen’s Global Trade Watch, said it would “bury the moldering corpse” of the Pacific deal, though she expressed concern about how Nafta would be renegotiated.

Some people emerging from the union meeting with Mr. Trump, who won surprising victories in Midwestern labor strongholds, expressed enthusiasm for both his trade action and his promise to build new roads, bridges and other infrastructure.

“We just had probably the most incredible meeting of our careers,” Sean McGarvey, president of North America’s Building Trades Unions, said. “We will work with him and his administration to help him implement his plans on infrastructure, trade and energy policy, so we really do put America back to work.”

Reporting was contributed by Michael D. Shear in Washington, Edward Wong in Los Angeles, Daniel J. Wakin in New York, Peter S. Goodman in London and Motoko Rich in Tokyo.




MENTOR promotes, advocates and is a resource for mentoring, partnership business.#Partnership #business


partnership business

  • Partnership business

  • Partnership business

    Partnership business

  • Partnership business

  • Partnership business

    Partnership business

  • Partnership business

    Partnership business

  • Partnership business

    OUR MISSION

    Our mission is to fuel the quantity and quality of mentoring relationships for America’s young people and to close the mentoring gap

    Impact

    MENTOR maintains the Mentoring Connector, the only national database of youth mentoring programs connecting volunteers to opportunities in their local communities.

    Stay Connected

    You can stay up to date on new resources, opportunities to advocate, national initiatives, and news about youth mentoring by signing up for our newsletters to stay connected.

    Partnership business

    Community Engagement

    Community engagement is an undeniably critical part of ensuring that mentoring isn’t left to chance. Whether you’re a public official, teacher, counselor, school administrator, or business leader, we need your help and involvement to close the mentoring gap.

    Become a Mentor

    By searching the database, you are sharing your information with MENTOR, its affiliates, and any program you choose to contact. Your email address will not be sold, shared with third parties or used for any purposes other than to keep you updated on news and opportunities related to mentoring.




  • Partnership Agreement Vs, business partnership agreement.#Business #partnership #agreement


    Partnership Agreement Vs. Joint Ventures

    Business partnership agreement

    A partnership agreement may be an oral contract sealed with a handshake.

    Michael Hitoshi/Digital Vision/Getty Images

    Related Articles

    • 1 [Joint Venture] | What Is the Difference Between a Joint Venture a Partnership Agreement?
    • 2 [Venture Partnership] | What Is a Joint Venture Partnership?
    • 3 [Operating Agreement] | What Is a Joint Operating Agreement?
    • 4 [Joint Venture] | What Is the Difference Between a Joint Venture Strategic Alliance?

    When two or more individuals, groups, companies or corporations decide to jointly participate in business activities, they may enter into a partnership. Partnerships are governed by partnership agreements. Joint ventures are special types of partnership, and a joint venture agreement should cover additional factors not necessarily needed in a partnership agreement.

    Partnership

    A partnership involves two or more individuals, groups, companies or corporations. Each partner participates in business operations and is liable for company actions. Business debts and profits pass through to the partners. In a general partnership each partner is individually liable for the company s actions and debts. In a limited partnership the general partner is the managing partner with full responsibility and liability for the company s actions while the limited partner has limited liability and usually only provides capital and shares in the profit without participating in management of the business.

    Joint Ventures

    Joint ventures are typically short-term partnerships between two or more individuals, groups, companies or corporations. Entities usually engage in joint ventures for a single purpose, such as to access new markets or to share costs. Once established, a joint venture can structure its business as a general partnership; a limited partnership; a corporation, which is treated as an individual with its own assets, liabilities and taxes; or a limited liability company, which limits partner liability and allows pass through of profits. The governing laws for joint ventures depend on the scope of the partnership and the type of structure established to conduct business.

    Partnership Agreement Defined

    The Uniform Partnership Act, adopted by many states as the governing partnership law, defines a partnership agreement as the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement. The partnership agreement is the contract that governs the behavior and actions of the partners in regards to the business. However, state law prevents the contract from eliminating certain duties of the partners. For example, the agreement cannot eliminate a partner s liability for actions of the company.

    Partnership Agreement Basics

    Partnership agreements are important because each partner can be held completely liable for the company s actions and can unilaterally make business decisions without the consent of other partners unless otherwise stipulated by the partnership agreement. The partnership agreement should outline distribution of shares, responsibilities and authority of each partner as well as make provisions for the termination or dissolution of the partnership.

    Joint Venture Agreement

    In addition to establishing the financial and managerial structure and providing for the dissolution of the partnership, a joint venture should outline the purpose of the joint venture as the partnership is formed to meet a specific business objective.

    References (6)

    About the Author

    Michele Jensen started writing professionally for businesses in 1999. Her writings include articles for eHow, Answerbag and COD, marketing materials and project-related documentation. She received her Bachelor of Science degree in electrical engineering from the University of Houston and a Master of Science degree in international relations from Troy State University.




    MENTOR promotes, advocates and is a resource for mentoring, partnership business.#Partnership #business


    partnership business

    • Partnership business

  • Partnership business

    Partnership business

  • Partnership business

  • Partnership business

    Partnership business

  • Partnership business

    Partnership business

  • Partnership business

    OUR MISSION

    Our mission is to fuel the quantity and quality of mentoring relationships for America’s young people and to close the mentoring gap

    Impact

    MENTOR maintains the Mentoring Connector, the only national database of youth mentoring programs connecting volunteers to opportunities in their local communities.

    Stay Connected

    You can stay up to date on new resources, opportunities to advocate, national initiatives, and news about youth mentoring by signing up for our newsletters to stay connected.

    Partnership business

    Community Engagement

    Community engagement is an undeniably critical part of ensuring that mentoring isn’t left to chance. Whether you’re a public official, teacher, counselor, school administrator, or business leader, we need your help and involvement to close the mentoring gap.

    Become a Mentor

    By searching the database, you are sharing your information with MENTOR, its affiliates, and any program you choose to contact. Your email address will not be sold, shared with third parties or used for any purposes other than to keep you updated on news and opportunities related to mentoring.




  • Transatlantic Trade and Investment Partnership (TTIP) – Trade – European Commission, partnership business.#Partnership #business


    European Commission Directorate-General for Trade

    Partnership business

    Accessibility tools

    Service tools

    Language selector

    • de
    • Current language: en
    • es
    • fr
    • it
    • pl

    Current portal location

    • European Commission
    • Trade
    • Policy
    • In focus: Transatlantic Trade and Investment Partnership (TTIP )

    Site navigation

    1. Trade
    2. Policy
      1. In focus:
        1. New trade strategy
        2. EU-Japan Economic Partnership Agreement
        3. Transatlantic Trade and Investment Partnership (TTIP )
          1. About TTIP
          2. Have your say
          3. Documents and events
        4. Comprehensive Economic and Trade Agreement (CETA )
        5. Conflict Minerals Regulation
      2. Policy making
      3. EU position in world trade
      4. EU and WTO
      5. Countries and regions
      6. Accessing markets
    3. Import and export rules
    4. Trade policy and you

    Website content

    In focus

    Latest news

    EU and US publish TTIP state of play assessment

    Partnership business

    Read the joint assessment of the progress made in the negotiations since negotiations started in July 2013.

    Report of the 15th round

    Partnership business

    Read the detailed report of the round that took place in New York.

    15th round final press conference

    Partnership business

    Read the outcome of the 15th negotiation round that took place in New York.

    14th TTIP Round – read the full report

    Partnership business

    A detailed report of the 14th round of TTIP talks is now available. It sets out progress achieved, chapter by chapter.

    14th TTIP Round summarised by EU Chief Negotiator

    Partnership business

    The EU’s Chief TTIP negotiator discusses progress made after 14 rounds of talks.

    Transparency: Commission publishes additional documents

    Partnership business

    The European Commission publishes a record number of EU proposals from the ongoing 14th TTIP round.

    EU negotiating texts in TTIP- Updated on 14 July 2016

    Partnership business

    The European Commission is negotiating TTIP as openly as possible.

    • factsheets in plain language
    • negotiating texts
      • EU textual proposals
      • EU position papers



    General Partnership, business partnership agreement.#Business #partnership #agreement


    business partnership agreement

    Business partnership agreementBusiness partnership agreement

    A general partnership (or simply partnership) is an association of two or more people carrying on a business with the goal of earning a profit. A partnership is viewed as being one and the same as its owners. There is little formality involved in creating a partnership. In fact, if someone can establish that you are in business with somebody else, then there is a general partnership. The intention or lack thereof of having a formal partnership is not important.

    Existence of a Partnership

    Rules for determining the existence of a partnership are outlined in Part II of the Uniform Partnership Act (UPA). Some of these rules are summarized as follows:

    1. Joint tenancy, common property, part ownership, etc. does not by itself establish a partnership, regardless of whether the owners of the property share any profits from it. Three ways to jointly own property are:

      Tenants in common – when one dies, one’s portion of the partnership is transferred to one’s heirs.

      Joint tenancy – right of survivorship – when one dies, the entire interest goes to the other person.

      Tenancy by entirety – for example, a husband and wife. Each tenant owns by whole and by part. If a third party has a claim against the husband, the claimant cannot go after the property since it belongs wholly to the wife as well. For this reason, banks often require both the husband and the wife to sign a loan.

      A person may be considered a partner even if not formally included in the partnership. This is known as partnership by estoppel. “Estoppel” means that one is not permitted to deny. In the context of partnerships, it means that a person cannot deny being a partner if he permits the partnership use his name. Take for example, a situation in which partner A and partner B start a business and offer non-partner C a profit interest in the company if they can use C’s name in the business. If a bank lends money to the partnership and the partnership becomes insolvent, C would be considered a partner and could be held liable.

      Like a sole proprietorship, a partnership has only one level of taxation. A partnership is a tax-reporting entity, not a tax-paying entity. Profits pass through to the owners and are divided in accordance with what is specified in the partnership agreement. There are no restrictions on how profits are allocated among partners as long as there is economic reason, so there is latitude in allocating income according to which partners have the best tax rates.

      While pass-through taxation is an advantage, owners of a partnership have unlimited personal liability. In general, each partner in a partnership is jointly liable for the partnership’s obligations. Joint liability means that the partners can be sued as a group. Several liability means that the partners are individually liable. In some states, each partner is both jointly and severally liable for the damages resulting from the wrongdoing of other partners, and for the debts and obligations of the partnership.

      Three rules for liability in a partnership are:

      1. Every partner is liable for his or her own actions.
      2. Every partner is liable for the actions of the other partners.
      3. Every partner is liable for the actions of the employees of the business.

      As an example to illustrate liability in a partnership, suppose there is a partnership formed by partners A, B, and C. If partner A accidentally runs over somebody while driving on a personal trip to the grocery store one weekend, then A alone has unlimited personal liability. If partner A accidentally runs over somebody while making a delivery for the partnership, then A still has unlimited personal liability, but all three partners would be jointly and severally liable. If the victim wins a judgement of $1 million against the partnership, and only partner B has the money, then B would have to pay the judgement. Partner B could assert a right of contribution against partner A, but if A has no money it would not be worth the effort. If an employee of the partnership, employee E, accidentally runs over somebody during the course of work, then the partnership is liable since the employer is responsible for the actions of an employee within the scope of business. If the accident happened while the employee stopped for something personal, then the employer would not be responsible (frolic and detour).

      Risk and Control

      Absent an agreement to the contrary, UPA gives partners equal voting rights, even if they contributed different amounts of capital. Squeeze-outs are a common issue in partnerships.

      Expense and formality

      As in the case of a sole proprietorship, if the partnership chooses a ficticious name (different from the names of the partners), it is required to file that name with the state.

      Fiduciary Duty in a Partnership

      Partners owe both a contractual duty and a fiduciary duty to one another. According to Black’s Law Dictionary, a fiduciary duty is the duty to act for someone else’s benefit while subordinating one’s personal interests to those of the other person. These days however, many operating agreements waive the fiduciary duty so that one can pursue other opportunities that may come along.

      Salmon wanted to lease some property in New York. The lease was to run from 1902 to 1922. He formed a partnership with Meinhard who put up 50% of the money. Salmon would be the active manager and would pay Meinhard 40% of the profits for the first five years, and 50% thereafter. In 1922 the lease was up for renewal and the owner of the property, speaking only with Salmon, offered to make some adjacent property available. Salmon signed a lease for the property on behalf of his own firm, Midpoint Realty Company, of which Meinhard was not an owner. Salmon had not told Meinhard anything about the new lease or even the possibility of a new project.

      Meinhard claimed that Salmon had a fiduciary duty to provide him the opportunity to participate in the deal.

      The court ruled in favor of Meinhard.

      The new deal was an extension of the old one. While Salmon did not act in bad faith, he had a fiduciary duty to Meinhard.

      As one person put it, a partnership is just like a marriage.

      Issues to Address when Forming a Partnership

      To reduce the chances of disputes among the partners, a written partnership agreement always should be drawn up before going into business as a partnership.

      The Revised Uniform Partnership Act (RUPA) was issued in 1994. It is a revision of the original Uniform Partnership Act that dates back to 1914. UPA is interstitial; it fills in the gaps in the specific partnership agreement.

      Issues to address in forming a general partnership:

      Amount of capital contributed by each person, and if more is needed at a later date, who contributes it, and any limitations to someone’s maximum contribution.

      Rights and responsibilities of each partner.

      Division of profits among the partners.

      Distribution of assets upon dissolution of the company. If one partner wakes up one day and wants out, the partnership dissolves. But liquidation would destroy the value of the business, so the partnership agreement should provide rules for a partner’s exit. One partner can transfer a profit interest to an external party, but not control. Some options for distribution of assets include:

      Right of first refusal – a provision that requires the departing partner to allow the remaining partners to buy his or her share of the business at the same price of a bona fide external offer.

      Right of first offer – since the time delay associated with giving existing partners the right of first refusal may discourage external parties’ interest in bidding, the right of first offer may be used instead. The right of first offer is a provision that requires the departing partner to offer to sell his or her share of the business to the other partners before offering it externally.

      Dutch auction – a provision in which one partner offers to sell to the other partner at a particular price. If the other partner refuses, the first partner must buy the other partners share at that price. This arrangement provides strong incentive for a fair asking price. Note that the term Dutch auction has other meanings as well – it also refers to both a descending price auction and to an auction in which several identical items are auctioned and all successful bidders pay the either the price of the lowest successful bidder or their bid prices, depending on the specific auction rules.

      Third party arbitrator – an outside party sets the price.

      Business partnership agreement

      The articles on this website are copyrighted material and may not be reproduced,

      stored on a computer disk, republished on another website, or distributed in any




      Partnership Agreement – Free Legal Form, business partnership agreement.#Business #partnership #agreement


      PARTNERSHIP AGREEMENT

      • Professional MS Word & PDF formatting Business partnership agreementBusiness partnership agreement
      • Fully editable & reusable
      • Lifetime updates
      • Accuracy guarantee

      This PARTNERSHIP AGREEMENT is made on ____________, 20__ between ________________________________ and ________________________________.

      1. NAME AND BUSINESS. The parties hereby form a partnership under the name of ________________________________ to conduct a ________________________________. The principal office of the business shall be in _______________________.

      2. TERM. The partnership shall begin on ________________, 20____, and shall continue until terminated as herein provided.

      3. CAPITAL. The capital of the partnership shall be contributed in cash by the partners as follows: A separate capital account shall be maintained for each partner. Neither partner shall withdraw any part of his capital account. Upon the demand of either partner, the capital accounts of the partners shall be maintained at all times in the proportions in which the partners share in the profits and losses of the partnership.

      4. PROFIT AND LOSS. The net profits of the partnership shall be divided equally between the partners and the net losses shall be borne equally by them. A separate income account shall be maintained for each partner. Partnership profits and losses shall be charged or credited to the separate income account of each partner. If a partner has no credit balance in his income account, losses shall be charged to his capital account.

      5. SALARIES AND DRAWINGS. Neither partner shall receive any salary for services rendered to the partnership. Each partner may, from time to time, withdraw the credit balance in his income account.

      6. INTEREST. No interest shall be paid on the initial contributions to the capital of the partnership or on any subsequent contributions of capital.

      7. MANAGEMENT DUTIES AND RESTRICTIONS. The partners shall have equal rights in the management of the partnership business, and each partner shall devote his entire time to the conduct of the business. Without the consent of the other partner neither partner shall on behalf of the partnership borrow or lend money, or make, deliver, or accept any commercial paper, or execute any mortgage, security agreement, bond, or lease, or purchase or contract to purchase, or sell or contract to sell any property for or of the partnership other than the type of property bought and sold in the regular course of its business.

      8. BANKING. All funds of the partnership shall be deposited in its name in such checking account or accounts as shall be designated by the partners. All withdrawals are to be made upon checks signed by either partner.

      9. BOOKS. The partnership books shall be maintained at the principal office of the partnership, and each partner shall at all times have access thereto. The books shall be kept on a fiscal year basis, commencing _____________________ and ending _____________________, and shall be closed and balanced at the end of each fiscal year. An audit shall be made as of the closing date.

      10. VOLUNTARY TERMINATION. The partnership may be dissolved at any time by agreement of the partners, in which event the partners shall proceed with reasonable promptness to liquidate the business of the partnership. The partnership name shall be sold with the other assets of the business. The assets of the partnership business shall be used and distributed in the following order: (a) to pay or provide for the payment of all partnership liabilities and liquidating expenses and obligations; (b) to equalize the income accounts of the partners; (c) to discharge the balance of the income accounts of the partners; (d) to equalize the capital accounts of the partners; and (e) to discharge the balance of the capital accounts of the partners.

      11. DEATH. Upon the death of either partner, the surviving partner shall have the right either to purchase the interest of the decedent in the partnership or to terminate and liquidate the partnership business. If the surviving partner elects to purchase the decedent’s interest, he shall serve notice in writing of such election, within three months after the death of the decedent, upon the executor or administrator of the decedent, or, if at the time of such election no legal representative has been appointed, upon any one of the known legal heirs of the decedent at the last-known address of such heir. (a) If the surviving partner elects to purchase the interest of the decedent in the partnership, the purchase price shall be equal to the decedent’s capital account as at the date of his death plus the decedent’s income account as at the end of the prior fiscal year, increased by his share of partnership profits or decreased by his share of partnership losses for the period from the beginning of the fiscal year in which his death occurred until the end of the calendar month in which his death occurred, and decreased by withdrawals charged to his income account during such period. No allowance shall be made for goodwill, trade name, patents, or other intangible assets, except as those assets have been reflected on the partnership books immediately prior to the decedent’s death; but the survivor shall nevertheless be entitled to use the trade name of the partnership. (b) Except as herein otherwise stated, the procedure as to liquidation and distribution of the assets of the partnership business shall be the same as stated in paragraph 10 with reference to voluntary termination.

      12. ARBITRATION. Any controversy or claim arising out of or relating to this Agreement, or the breach hereof, shall be settled by arbitration in accordance with the rules, then obtaining, of the American Arbitration Association, and judgment upon the award rendered may be entered in any court having jurisdiction thereof.

      Executed this ______________ day of _________________, 20_____ in _____________________ [city], _____________________ [state].




      Transatlantic Trade and Investment Partnership (TTIP) – Trade – European Commission, partnership business.#Partnership #business


      European Commission Directorate-General for Trade

      Partnership business

      Accessibility tools

      Service tools

      Language selector

      • de
      • Current language: en
      • es
      • fr
      • it
      • pl

      Current portal location

      • European Commission
      • Trade
      • Policy
      • In focus: Transatlantic Trade and Investment Partnership (TTIP )

      Site navigation

      1. Trade
      2. Policy
        1. In focus:
          1. New trade strategy
          2. EU-Japan Economic Partnership Agreement
          3. Transatlantic Trade and Investment Partnership (TTIP )
            1. About TTIP
            2. Have your say
            3. Documents and events
          4. Comprehensive Economic and Trade Agreement (CETA )
          5. Conflict Minerals Regulation
        2. Policy making
        3. EU position in world trade
        4. EU and WTO
        5. Countries and regions
        6. Accessing markets
      3. Import and export rules
      4. Trade policy and you

      Website content

      In focus

      Latest news

      EU and US publish TTIP state of play assessment

      Partnership business

      Read the joint assessment of the progress made in the negotiations since negotiations started in July 2013.

      Report of the 15th round

      Partnership business

      Read the detailed report of the round that took place in New York.

      15th round final press conference

      Partnership business

      Read the outcome of the 15th negotiation round that took place in New York.

      14th TTIP Round – read the full report

      Partnership business

      A detailed report of the 14th round of TTIP talks is now available. It sets out progress achieved, chapter by chapter.

      14th TTIP Round summarised by EU Chief Negotiator

      Partnership business

      The EU’s Chief TTIP negotiator discusses progress made after 14 rounds of talks.

      Transparency: Commission publishes additional documents

      Partnership business

      The European Commission publishes a record number of EU proposals from the ongoing 14th TTIP round.

      EU negotiating texts in TTIP- Updated on 14 July 2016

      Partnership business

      The European Commission is negotiating TTIP as openly as possible.

      • factsheets in plain language
      • negotiating texts
        • EU textual proposals
        • EU position papers



      Money Instructor – Personal Finance, Business, Careers, Life Skills Lessons, business partnership.#Business #partnership


      Money Instructor

      Business partnership

      Welcome to Money Instructor

      Teach and learn basic money skills, personal finance, business, careers, and life skills.

      Business partnership

      Educators

      Use our worksheets, lessons, and activities for teaching money, business, and life skills.

      Business partnership

      Kids and Money

      Money lessons for kids. Financial literacy and life skills for every child.

      Business partnership

      Teach and learn basic money skills, personal finance, business, careers, and life skills.

      featured lessons

      Featured lessons and learning resources

      Earning Money

      Business partnership

      Teach and learn about earning and making money.

      Down Payments

      Business partnership

      Students will begin to understand the topic of down payments. In our Money Math Lessons category.

      Online Banking

      Business partnership

      Learn modern internet banking skills using our online banking simulation.

      Teachers – Parents – Educators

      Use our worksheets, lessons, and activities for teaching money, personal finance, business, and life skills.

      Teach and Learn

      Teaching lessons and informational resources

      Business partnership

      Lessons, Lesson Plans, and Worksheets

      Lessons, lesson plans, worksheets, and other material for teaching money skills, personal finance, business, careers, and life skills.

      Business partnership

      Informational Resources

      Useful personal finance information, articles, advice, and tips to help you with your own spending, financial planning, career, business, and other life skills.

      Teach and learn money skills, personal finance, money management, business, careers, real life skills, and more.

      Business partnership

      Many young people graduate without a basic understanding of money and money management, business, the economy, and investing. We hope to help teachers, parents, individuals, and institutions teach these skills, while reinforcing basic math, reading, vocabulary, and other important skills.




      BirdLife, Partnership for nature and people, partnership business.#Partnership #business


      partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      Partnership business

      New BirdLife clothing

      Show you support in extra soft organic traceable cotton

      Partnership business

      Business and Nature Forum 2017

      Marina Bay Sands Convention Centre,

      Singapore 20/21 November 2017

      Partnership business

      One plan to save them all

      Partnership business

      Is this the next Passenger Pigeon?

      Halting the shocking decline of the Yellow-breasted Bunting

      Partnership business

      Partnership business

      Eight incredible bird nests

      from all around the world

      Partnership business

      Saving Paradise in the Pacific

      How this year’s Birdfair project will save the unique wildlife of Rapa Iti

      Partnership business

      Uruguay s first batch of bird-friendly beef is on its way to Europe

      Partnership business

      Is your conservation having an impact? New toolkit PRISM will find out

      Partnership business

      Captive-reared Critically Endangered vultures soon to be released in Nepal

      Partnership business

      Meet the guardians watching over Argentina s threatened nesting sites

      Partnership business

      New study pinpoints birds of prey as hardest hit by wind farms

      Partnership business

      Shot and left for dead: help us put an end to this persecution.

      Partnership business

      India closes the loophole threatening the recovery of Asia s vultures

      Partnership business

      Bird Eco-Art in Hong Kong: inspiring a new audience

      Partnership business

      New study reveals why islands are our biggest extinction battlegrounds

      Partnership business

      BirdLife presents The Killing 2.0

      Partnership business

      Curlew crisis deepens: vital Australian wetlands under threat

      Partnership business

      Migration special: why the long trip south gets longer every year

      Who we are

      Who we are

      We are a global Partnership of independent organisations working together as one for nature and people. Read more about BirdLife.

      What we do

      What we do

      We create action through insight. Through our expertise on birds we act for nature and people. Through sharing local challenges we find lasting global solutions. Read more about our programmes.

      Support us

      Support us

      When you get involved with BirdLife you are helping us to go beyond today to impact the future. Read about how you can support us.

      Where we work

      Where we work

      From the Amazon to the Zambezi, from the Tundra to the Tierra del Fuego the BirdLife Partnership is active in more than 120 countries worldwide. Read more about our regional work.

      Partnership business




      MENTOR promotes, advocates and is a resource for mentoring, partnership business.#Partnership #business


      partnership business

      • Partnership business

    1. Partnership business

      Partnership business

    2. Partnership business

    3. Partnership business

      Partnership business

    4. Partnership business

      Partnership business

    5. Partnership business

      OUR MISSION

      Our mission is to fuel the quantity and quality of mentoring relationships for America’s young people and to close the mentoring gap

      Impact

      MENTOR maintains the Mentoring Connector, the only national database of youth mentoring programs connecting volunteers to opportunities in their local communities.

      Stay Connected

      You can stay up to date on new resources, opportunities to advocate, national initiatives, and news about youth mentoring by signing up for our newsletters to stay connected.

      Partnership business

      Community Engagement

      Community engagement is an undeniably critical part of ensuring that mentoring isn’t left to chance. Whether you’re a public official, teacher, counselor, school administrator, or business leader, we need your help and involvement to close the mentoring gap.

      Become a Mentor

      By searching the database, you are sharing your information with MENTOR, its affiliates, and any program you choose to contact. Your email address will not be sold, shared with third parties or used for any purposes other than to keep you updated on news and opportunities related to mentoring.




    6. Business partnership #sba #loans


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership Agreement – Template & Sample Form #loans #for #women #in #business


      #business partnership agreement

      #

      Partnership Agreement

      1,800+ Documents to Cover
      Any Situation

      With the most complete library of document templates available today, Business-in-a-Box will cover all your writing needs from the day you launch your business until maturity.

      Attorney-Drafted
      Professional Documents

      Written by lawyers and business consultants, all document drafts provide high-quality, legally sound content that conveys a polished corporate image. You too can look like a Fortune 500.

      Fully Customizable with
      Microsoft Office

      Save documents in Word format (.doc) and enjoy total editing capabilities by using MS Office (2010, 2007, 2003, XP and 2000), iWork, or the built-in Text Editor. Also easy to export to PDF.

      Fast & easy:
      Simply Fill in the Blanks & Print!

      Customizing a simple document is literally a matter of filling in the blanks. Fields that require customization are in brackets and contain helpful guidance making the software easy to use

      Regularly Updated
      to Support Your Growth

      You can rely on a product that is evolving. We are constantly adding new documents and features to address user requests and the evolving business landscape.

      Documents are Available
      in 7 Languages

      All documents are available in English, French, Spanish, Chinese, German, Italian and Portuguese. Doing business with foreign partners and clients has never been easier!

      Improve Your Productivity Today!

      Run & grow your business like a pro!

      About Biztree

      Since 2001, Biztree has helped over 10,000,000 entrepreneurs, business owners, executives and managers to start, run and grow their business more efficiently. Our Business-in-a-Box software gives you unlimited lifetime access to our entire collection of 1,800 business and legal document templates.

      Whether you need to write a business plan, legal contracts, proposals, business letters, board resolutions, policies, spreadsheets or any other business document, simply fill in the blanks and get the job done in minutes!




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #small #business #funding


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Business partnership #order #business #cards


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership Agreement Template, Form, with Sample #magnetic #business #cards


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Partnership Agreement – Encyclopedia – Business Terms #good #small #business #ideas


      #business partnership agreement

      #

      Partnership agreements are written documents that explicitly detail the relationship between the business partners and their individual obligations and contributions to the partnership. Since partnership agreements should cover all possible business situations that could arise during the partnership’s life, the documents are often complex; legal counsel in drafting and reviewing the finished contract is generally recommended. If a partnership does not have a partnership agreement in place when it dissolves, the guidelines of the Uniform Partnership Act and various state laws will determine how the assets and debts of the partnership are distributed.

      RECOMMENDED ELEMENTS OF THE PARTNERSHIP AGREEMENT

      1. Name and address of partnership.
      2. Duration of partnership Partners can point to a specific termination date or include a general clause explaining that the partnership will exist until all partners agree to dissolve it or a partner dies.
      3. Business purpose Some consultants recommend that partners keep this section somewhat vague in case opportunities for expansion arise, while others emphasize clear-cut and unambiguous entrepreneurial goals.
      4. Bank account information This section should note which bank accounts are to be used for partnership purposes, and which partners have check-signing privileges.
      5. Partners’ contributions Valuation of all contributions, whether in cash, property or services.
      6. Partners’ compensation Determine in detail how and when profits (and salaries, if applicable) will be distributed.
      7. Management authority What are the operational responsibilities of each partner? Will partners be able to make some decisions on their own? Which decisions will require the unanimous consent of all partners? What are the voting rights of each partner? How will tie votes be resolved?
      8. Circumstances under which new partners might be admitted into the partnership.
      9. Work hours and vacation.
      10. Kinds of outside business activities that will be allowed for partners.
      11. Disposition of partnership’s name if a partner leaves.
      12. Dispute resolution Stipulates what kinds of mediation or arbitration will be utilized in the case of disputes that cannot be resolved amongst the partners. This is a way to avoid costly litigation.
      13. Miscellaneous provisions This portion of the agreement might delineate the circumstances under which the agreement could be amended, for example.
      14. Buy-Sell Agreement.

      The Buy-Sell

      Agreement The buy-sell agreement is one of the most important elements of any partnership agreement. Lance Wallach summarized the problem in an article for Accounting Today: “Large problems can result from the death, incapacity, resignation, etc. of one of the owners,” Wallach wrote. “How would the decedent’s heirs liquidate the business interest to pay expenses and taxes? What would happen if an heir or an unknown outside buyer of the decedent’s share decides to interfere with the business? Could the business or other owners afford to buy back the decedent’s ownership interests?”

      A buy-sell agreement is intended to forestall all such problems. In essence, it specifies the terms of a buyout in the event of death, divorce, disability, or retirement. The buy-sell agreement has become a “must” in many instances in which a partnership is seeking financing a loan or a lease. Lenders want to see the agreement and study its provisions.

      The two primary structures for buy/sell agreements are cross-purchase agreements, in which the remaining partnership owners buy the departing partner’s stock or partnership interest, and the stock-redemption agreement, in which the company buys the stock of the departing owner. Life insurance policies are the more typical technique employed to ensure that funds are available for cross-purchase transactions. With two partners in a business, the solution is very straightforward but requires more ingenuity to set up with multiple shareholders. With stock redemption agreements, on the other hand, the insurance would be written in favor of the company. One of the benefits of a buy-sell agreement is that, with the partners able to reach agreement, more innovative methods of solving the problem can be worked out and codified.

      BIBLIOGRAPHY

      Bentley, Ross. “Live in Peace with Your Contract.” Caterer & Hotelkeeper. 11 August 2005.

      Blaydon, Colin, and Fred Wainwright. “Survey: GPs and LPs Support Idea for Model LP Agreement.” Venture Capital Journal. 1 July 2004.

      Dunn, Ross. “Ye of Little Faith.” People Management. 27 April 2000.

      Spandaccini, Michael. “The Legal Ins and Outs of Forming a Partnership.” Entrepreneur. 2 June 2005.

      Wallach, Lance. “Buy-Sell Agreements Can Help Protect Your Business.” Accounting Today. 7 November 2005.

      Weisz, Richard L. “Breakup of Business Partnership isn’t Easy Thing to Do.” Business First-Columbus. 1 December 2000.

      Zaritsky, Howard M. Structuring Buy-Sell Agreements. Warren Gorham Lamont, 2005.




      Business partnership #business #card #holders


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership – Small Business Encyclopedia #small #business #assistance


      #partnership business

      #

      Partnership

      Definition:A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships.

      If your business will be owned and operated by several individuals, you’ll want to take a look at structuring your business as a partnership. Partnerships come in two varieties: general partnerships and limited partnerships. In a general partnership, the partners manage the company and assume responsibility for the partnership’s debts and other obligations. A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as investors only; they have no control over the company and are not subject to the same liabilities as the general partners.

      Unless you expect to have many passive investors, limited partnerships are generally not the best choice for a new business because of all the required filings and administrative complexities. If you have two or more partners who want to be actively involved, a general partnership would be much easier to form.

      One of the major advantages of a partnership is the tax treatment it enjoys. A partnership doesn’t pay tax on its income but “passes through” any profits or losses to the individual partners. At tax time, the partnership must file a tax return (Form 1065) that reports its income and loss to the IRS. In addition, each partner reports his or her share of income and loss on Schedule K-1 of Form 1065.

      Personal liability is a major concern if you use a general partnership to structure your business. Like sole proprietors, general partners are personally liable for the partnership’s obligations and debts. Each general partner can act on behalf of the partnership, take out loans and make decisions that will affect and be binding on all the partners (if the partnership agreement permits). Keep in mind that partnerships are also more expensive to establish than sole proprietorships because they require more legal and accounting services.

      If you decide to organize your business as a partnership, be sure you draft a partnership agreement that details how business decisions are made, how disputes are resolved and how to handle a buyout. You’ll be glad you have this agreement if for some reason you run into difficulties with one of the partners or if someone wants out of the arrangement.

      The agreement should address the purpose of the business and the authority and responsibility of each partner. It’s a good idea to consult an attorney experienced with small businesses for help in drafting the agreement. Here are some other issues you’ll want the agreement to address:

      • How will the ownership interest be shared? It’s not necessary, for example, for two owners to equally share ownership and authority. However, if you decide to do it, make sure the proportion is stated clearly in the agreement.
      • How will decisions be made? It’s a good idea to establish voting rights in case a major disagreement arises. When just two partners own the business 50-50, there’s the possibility of a deadlock. To avoid this, some businesses provide in advance for a third partner, a trusted associate who may own only 1 percent of the business but whose vote can break a tie.
      • When one partner withdraws, how will the purchase price be determined? One possibility is to agree on a neutral third party, such as your banker or accountant, to find an appraiser to determine the price of the partnership interest.
      • If a partner withdraws from the partnership, when will the money be paid? Depending on the partnership agreement, you can agree that the money be paid over three, five or 10 years, with interest. You don’t want to be hit with a cash-flow crisis if the entire price has to be paid on the spot on one lump sum.



      Partnership Agreement #business #networking #sites


      #business partnership agreement

      #

      Partnership Agreement

      Document Overview

      Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.

      Use this Partnership Agreement if:

      • You are entering into a Partnership and will like to lay down the rules of the Partnership.

      What does the Partnership Agreement cover?

      • Partnership name and business address;
      • Names of the partners;
      • Effective date of agreement, and commencement of Partnership;
      • Maintenance of the Partnership account;
      • Duties and limitations of each partner;
      • Sharing of capital and property, profit or losses;
      • Operation of partner s shares;
      • Rules governing dissolution of the Partnership;
      • Terms concerning retirement, death, or expulsion of a partner; and
      • Dispute resolution.

      Other names for Partnership Agreement include:

      • Partner Agreement; and
      • Partnership Contract.
      • suitable for all Australian states and territories
      • last updated July 2014
      • under 15 minutes

      Get a Quick Quote

      Let us find you a lawyer who can draft a Partnership Agreement specific to your needs. Our Quick Quotes technology saves you time and gives you the choice of up to 3 fixed-price quotes from over 600+ expert lawyers.

      1. Submit quote request

      Fill out the quote request form. Provide as much detail as possible so we can source you the most accurate quotes.

      2. Receive 3 fixed-price quotes in 4 hours

      Save time shopping around town. You will receive 3 fixed-price quotes from our 600+ trusted and verified lawyers.

      3. Connect with your lawyer

      Once you have chosen your quote, your lawyer will contact you via phone or email to begin working on your job.




      Partnership Agreement Template, Form, with Sample #business #cash #advance


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Partnership Agreement – Template & Sample Form #business #savings #account


      #business partnership agreement

      #

      Partnership Agreement

      1,800+ Documents to Cover
      Any Situation

      With the most complete library of document templates available today, Business-in-a-Box will cover all your writing needs from the day you launch your business until maturity.

      Attorney-Drafted
      Professional Documents

      Written by lawyers and business consultants, all document drafts provide high-quality, legally sound content that conveys a polished corporate image. You too can look like a Fortune 500.

      Fully Customizable with
      Microsoft Office

      Save documents in Word format (.doc) and enjoy total editing capabilities by using MS Office (2010, 2007, 2003, XP and 2000), iWork, or the built-in Text Editor. Also easy to export to PDF.

      Fast & easy:
      Simply Fill in the Blanks & Print!

      Customizing a simple document is literally a matter of filling in the blanks. Fields that require customization are in brackets and contain helpful guidance making the software easy to use

      Regularly Updated
      to Support Your Growth

      You can rely on a product that is evolving. We are constantly adding new documents and features to address user requests and the evolving business landscape.

      Documents are Available
      in 7 Languages

      All documents are available in English, French, Spanish, Chinese, German, Italian and Portuguese. Doing business with foreign partners and clients has never been easier!

      Improve Your Productivity Today!

      Run & grow your business like a pro!

      About Biztree

      Since 2001, Biztree has helped over 10,000,000 entrepreneurs, business owners, executives and managers to start, run and grow their business more efficiently. Our Business-in-a-Box software gives you unlimited lifetime access to our entire collection of 1,800 business and legal document templates.

      Whether you need to write a business plan, legal contracts, proposals, business letters, board resolutions, policies, spreadsheets or any other business document, simply fill in the blanks and get the job done in minutes!




      Business Partnership Agreement Pdf – Motorhomes Rent Choice #loan #business


      #business partnership agreement

      #

      business partnership agreement pdf

      Business Partnership Agreement Pdf

      Partnership Agreement Template – Download Now. Simply fill-in the blanks and print in minutes! Instant Access to 1,800+ business and legal forms. Download samples Everything you ever wanted to know about writing a partnership agreement. If you are currently involved in a partnership, or are thinking about starting up aDuquesne University Small Business Development Center Sample Partnership Agreement. THIS AGREEMENT is made and entered into at _____, this Download Sample Partnership Agreement Templates for free. Try printable samples, formats charts for PDF, Word, Excel.How to Write a Partnership Agreement. When you start a small business partnership, you should take time to write a partnership agreement. Outlining the details of the FindLegalForms lawyer drafted Business Partnership Forms. For download and use in all states. Forms that are safe to use and informative. Try Now.Download and create your own document with Partnership Agreement (DOC, 42 KB/PDF, 48 KB) for free. We also offer you a preview of PDF files.PARTNERSHIP AGREEMENT. This PARTNERSHIP AGREEMENT is made on _____, 20__ between _____ andReimbursements for Business Expenses paid by the owners of the business (sample clause): Reimbursement For Partnership Expenses. Each partner shall be entitled to Professional Partnership Agreement available for immediate download,Business partnerships can be an enjoyable, profitable and enduring form of a business relationship.

      Image Gallery business partnership agreement pdf

      Incoming search terms:

      • sinhala wal kello heluwen
      • sari jacket
      • student project proposal example
      • dibujos de emos enamorados para dibujar faciles
      • centro de mesa de la peppa
      • cute drawing ideas
      • confirmation of enrolment letter – template
      • Confirmation Accommodation
      • warehouse inspection form
      • Cartoon panda

      MRC

      Post navigation




      Partnership Agreement Template, Form, with Sample #stock #market #quotes


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Partnership Agreement Template, Form, with Sample #getting #a #small #business #loan


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Partnership Agreement #stock #market #news #today


      #business partnership agreement

      #

      Partnership Agreement

      Document Overview

      Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.

      Use this Partnership Agreement if:

      • You are entering into a Partnership and will like to lay down the rules of the Partnership.

      What does the Partnership Agreement cover?

      • Partnership name and business address;
      • Names of the partners;
      • Effective date of agreement, and commencement of Partnership;
      • Maintenance of the Partnership account;
      • Duties and limitations of each partner;
      • Sharing of capital and property, profit or losses;
      • Operation of partner s shares;
      • Rules governing dissolution of the Partnership;
      • Terms concerning retirement, death, or expulsion of a partner; and
      • Dispute resolution.

      Other names for Partnership Agreement include:

      • Partner Agreement; and
      • Partnership Contract.
      • suitable for all Australian states and territories
      • last updated July 2014
      • under 15 minutes

      Get a Quick Quote

      Let us find you a lawyer who can draft a Partnership Agreement specific to your needs. Our Quick Quotes technology saves you time and gives you the choice of up to 3 fixed-price quotes from over 600+ expert lawyers.

      1. Submit quote request

      Fill out the quote request form. Provide as much detail as possible so we can source you the most accurate quotes.

      2. Receive 3 fixed-price quotes in 4 hours

      Save time shopping around town. You will receive 3 fixed-price quotes from our 600+ trusted and verified lawyers.

      3. Connect with your lawyer

      Once you have chosen your quote, your lawyer will contact you via phone or email to begin working on your job.




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #business #printers


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Partnership Agreement Template, Form, with Sample #best #home #business


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Supplier Relationship Management Training #partnership #relationship #management


      #

      Supplier Relationship Management Training

      Acquire the specialist insider knowledge that will enable you to become an industry leader and develop the toolbox of tactics and techniques that deliver measurable results for your organization.

      The Supplier Relationship Management Training Program Includes:

      • Skills Assessment: identification of personal and/or team development needs against external benchmarks in the key areas of SRM skills and knowledge.
      • Development Plan: a personal report with gap analysis, together with learning and experience recommendations.
      • Learning: a flexible yet structured online program with student and instructor interactions.
      • Certification: an internationally recognized certification in supplier relationship management at Practitioner, Advanced Practitioner or Expert level.

      Drive Increased Value from your Supply Relationships

      Supplier Relationship Management has become a critical enabler of business performance, whether in the public or private sector, with the potential to drive both value and reputation. Competence is achieved through a combination of operational experience, structured learning and rigorous assessment.

      The Supplier Relationship Management Program supports the journey to individual and organizational excellence.

      Through their partnership, IACCM and State of Flux have created a world-class and internationally recognised training and certification program in Supplier Relationship Management. Their joint expertise successfully blends the technical, behavioural and collaborative skills required to effectively manage suppliers, enabling organisations to achieve their key business objectives of growth, profitability and shareholder value.

      How Does the SRM Training Program Work?

      IACCM Certification is based on a holistic assessment of skills, experience and professional contribution, supported by an on-line examination at Practitioner Level, successful submission of course assignments at Advanced Practitioner Level and at Expert level, demonstrated leadership and judgment through the submission and execution of a live strategic supplier case study.

      The SRM program is accessed online on the secure IACCM Learning Portal. The Practitioner Certification program is selfpaced and typically takes 3-6 months to complete. The next level of certification, the webinar-based Advanced Practitioner Certification program, takes approximately 12 months to complete. The programs can be taken individually or, for teams of 6 or more, as an exclusive corporate cohort. You will have up to 12 months to complete a program.

      The process of completing the program and achieving certification is as follows:

      SRM Practitioner and Advanced Practitioner Certification – Steps to Success

      Success

      When you successfully complete the training, you will be awarded the status of Practitioner. Advanced Practitioner or Expert. Your certificate will be sent by mail, generally within 2 weeks of program completion and will be valid for 2 years.

      Upgrading

      If you wish to upgrade your certification level, you may apply no sooner than 1 year after the date of your current certification award. On application, you will be requested to update your skills and experience assessment to verify eligibility for the next level of certification. When verified you will be asked to pay the fee applicable to your new learning program.

      Benefits

      How To Order IACCM Services




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #on #line #business


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Business partnership #business #internet


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership Agreement – Template & Sample Form #small #business #investment


      #business partnership agreement

      #

      Partnership Agreement

      1,800+ Documents to Cover
      Any Situation

      With the most complete library of document templates available today, Business-in-a-Box will cover all your writing needs from the day you launch your business until maturity.

      Attorney-Drafted
      Professional Documents

      Written by lawyers and business consultants, all document drafts provide high-quality, legally sound content that conveys a polished corporate image. You too can look like a Fortune 500.

      Fully Customizable with
      Microsoft Office

      Save documents in Word format (.doc) and enjoy total editing capabilities by using MS Office (2010, 2007, 2003, XP and 2000), iWork, or the built-in Text Editor. Also easy to export to PDF.

      Fast & easy:
      Simply Fill in the Blanks & Print!

      Customizing a simple document is literally a matter of filling in the blanks. Fields that require customization are in brackets and contain helpful guidance making the software easy to use

      Regularly Updated
      to Support Your Growth

      You can rely on a product that is evolving. We are constantly adding new documents and features to address user requests and the evolving business landscape.

      Documents are Available
      in 7 Languages

      All documents are available in English, French, Spanish, Chinese, German, Italian and Portuguese. Doing business with foreign partners and clients has never been easier!

      Improve Your Productivity Today!

      Run & grow your business like a pro!

      About Biztree

      Since 2001, Biztree has helped over 10,000,000 entrepreneurs, business owners, executives and managers to start, run and grow their business more efficiently. Our Business-in-a-Box software gives you unlimited lifetime access to our entire collection of 1,800 business and legal document templates.

      Whether you need to write a business plan, legal contracts, proposals, business letters, board resolutions, policies, spreadsheets or any other business document, simply fill in the blanks and get the job done in minutes!




      Partnership Agreement – Template & Sample Form #small #business #payroll


      #business partnership agreement

      #

      Partnership Agreement

      1,800+ Documents to Cover
      Any Situation

      With the most complete library of document templates available today, Business-in-a-Box will cover all your writing needs from the day you launch your business until maturity.

      Attorney-Drafted
      Professional Documents

      Written by lawyers and business consultants, all document drafts provide high-quality, legally sound content that conveys a polished corporate image. You too can look like a Fortune 500.

      Fully Customizable with
      Microsoft Office

      Save documents in Word format (.doc) and enjoy total editing capabilities by using MS Office (2010, 2007, 2003, XP and 2000), iWork, or the built-in Text Editor. Also easy to export to PDF.

      Fast & easy:
      Simply Fill in the Blanks & Print!

      Customizing a simple document is literally a matter of filling in the blanks. Fields that require customization are in brackets and contain helpful guidance making the software easy to use

      Regularly Updated
      to Support Your Growth

      You can rely on a product that is evolving. We are constantly adding new documents and features to address user requests and the evolving business landscape.

      Documents are Available
      in 7 Languages

      All documents are available in English, French, Spanish, Chinese, German, Italian and Portuguese. Doing business with foreign partners and clients has never been easier!

      Improve Your Productivity Today!

      Run & grow your business like a pro!

      About Biztree

      Since 2001, Biztree has helped over 10,000,000 entrepreneurs, business owners, executives and managers to start, run and grow their business more efficiently. Our Business-in-a-Box software gives you unlimited lifetime access to our entire collection of 1,800 business and legal document templates.

      Whether you need to write a business plan, legal contracts, proposals, business letters, board resolutions, policies, spreadsheets or any other business document, simply fill in the blanks and get the job done in minutes!




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #business #games


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Business partnership #business #marketing


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership Agreement #business #plans #examples


      #business partnership agreement

      #

      Partnership Agreement

      Document Overview

      Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.

      Use this Partnership Agreement if:

      • You are entering into a Partnership and will like to lay down the rules of the Partnership.

      What does the Partnership Agreement cover?

      • Partnership name and business address;
      • Names of the partners;
      • Effective date of agreement, and commencement of Partnership;
      • Maintenance of the Partnership account;
      • Duties and limitations of each partner;
      • Sharing of capital and property, profit or losses;
      • Operation of partner s shares;
      • Rules governing dissolution of the Partnership;
      • Terms concerning retirement, death, or expulsion of a partner; and
      • Dispute resolution.

      Other names for Partnership Agreement include:

      • Partner Agreement; and
      • Partnership Contract.
      • suitable for all Australian states and territories
      • last updated July 2014
      • under 15 minutes

      Get a Quick Quote

      Let us find you a lawyer who can draft a Partnership Agreement specific to your needs. Our Quick Quotes technology saves you time and gives you the choice of up to 3 fixed-price quotes from over 600+ expert lawyers.

      1. Submit quote request

      Fill out the quote request form. Provide as much detail as possible so we can source you the most accurate quotes.

      2. Receive 3 fixed-price quotes in 4 hours

      Save time shopping around town. You will receive 3 fixed-price quotes from our 600+ trusted and verified lawyers.

      3. Connect with your lawyer

      Once you have chosen your quote, your lawyer will contact you via phone or email to begin working on your job.




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #cottage #industry #ideas


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Business partnership #business #contract


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership Agreement – Template & Sample Form #insurance #for #business


      #business partnership agreement

      #

      Partnership Agreement

      1,800+ Documents to Cover
      Any Situation

      With the most complete library of document templates available today, Business-in-a-Box will cover all your writing needs from the day you launch your business until maturity.

      Attorney-Drafted
      Professional Documents

      Written by lawyers and business consultants, all document drafts provide high-quality, legally sound content that conveys a polished corporate image. You too can look like a Fortune 500.

      Fully Customizable with
      Microsoft Office

      Save documents in Word format (.doc) and enjoy total editing capabilities by using MS Office (2010, 2007, 2003, XP and 2000), iWork, or the built-in Text Editor. Also easy to export to PDF.

      Fast & easy:
      Simply Fill in the Blanks & Print!

      Customizing a simple document is literally a matter of filling in the blanks. Fields that require customization are in brackets and contain helpful guidance making the software easy to use

      Regularly Updated
      to Support Your Growth

      You can rely on a product that is evolving. We are constantly adding new documents and features to address user requests and the evolving business landscape.

      Documents are Available
      in 7 Languages

      All documents are available in English, French, Spanish, Chinese, German, Italian and Portuguese. Doing business with foreign partners and clients has never been easier!

      Improve Your Productivity Today!

      Run & grow your business like a pro!

      About Biztree

      Since 2001, Biztree has helped over 10,000,000 entrepreneurs, business owners, executives and managers to start, run and grow their business more efficiently. Our Business-in-a-Box software gives you unlimited lifetime access to our entire collection of 1,800 business and legal document templates.

      Whether you need to write a business plan, legal contracts, proposals, business letters, board resolutions, policies, spreadsheets or any other business document, simply fill in the blanks and get the job done in minutes!




      Business Partnership Agreement Pdf – Motorhomes Rent Choice #best #business #loans


      #business partnership agreement

      #

      business partnership agreement pdf

      Business Partnership Agreement Pdf

      Partnership Agreement Template – Download Now. Simply fill-in the blanks and print in minutes! Instant Access to 1,800+ business and legal forms. Download samples Everything you ever wanted to know about writing a partnership agreement. If you are currently involved in a partnership, or are thinking about starting up aDuquesne University Small Business Development Center Sample Partnership Agreement. THIS AGREEMENT is made and entered into at _____, this Download Sample Partnership Agreement Templates for free. Try printable samples, formats charts for PDF, Word, Excel.How to Write a Partnership Agreement. When you start a small business partnership, you should take time to write a partnership agreement. Outlining the details of the FindLegalForms lawyer drafted Business Partnership Forms. For download and use in all states. Forms that are safe to use and informative. Try Now.Download and create your own document with Partnership Agreement (DOC, 42 KB/PDF, 48 KB) for free. We also offer you a preview of PDF files.PARTNERSHIP AGREEMENT. This PARTNERSHIP AGREEMENT is made on _____, 20__ between _____ andReimbursements for Business Expenses paid by the owners of the business (sample clause): Reimbursement For Partnership Expenses. Each partner shall be entitled to Professional Partnership Agreement available for immediate download,Business partnerships can be an enjoyable, profitable and enduring form of a business relationship.

      Image Gallery business partnership agreement pdf

      Incoming search terms:

      • sinhala wal kello heluwen
      • sari jacket
      • student project proposal example
      • dibujos de emos enamorados para dibujar faciles
      • centro de mesa de la peppa
      • cute drawing ideas
      • confirmation of enrolment letter – template
      • Confirmation Accommodation
      • warehouse inspection form
      • Cartoon panda

      MRC

      Post navigation




      Partnership business #starting #a #business


      #partnership business

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Business Partnership Agreement Pdf – Motorhomes Rent Choice #business #lenders


      #business partnership agreement

      #

      business partnership agreement pdf

      Business Partnership Agreement Pdf

      Partnership Agreement Template – Download Now. Simply fill-in the blanks and print in minutes! Instant Access to 1,800+ business and legal forms. Download samples Everything you ever wanted to know about writing a partnership agreement. If you are currently involved in a partnership, or are thinking about starting up aDuquesne University Small Business Development Center Sample Partnership Agreement. THIS AGREEMENT is made and entered into at _____, this Download Sample Partnership Agreement Templates for free. Try printable samples, formats charts for PDF, Word, Excel.How to Write a Partnership Agreement. When you start a small business partnership, you should take time to write a partnership agreement. Outlining the details of the FindLegalForms lawyer drafted Business Partnership Forms. For download and use in all states. Forms that are safe to use and informative. Try Now.Download and create your own document with Partnership Agreement (DOC, 42 KB/PDF, 48 KB) for free. We also offer you a preview of PDF files.PARTNERSHIP AGREEMENT. This PARTNERSHIP AGREEMENT is made on _____, 20__ between _____ andReimbursements for Business Expenses paid by the owners of the business (sample clause): Reimbursement For Partnership Expenses. Each partner shall be entitled to Professional Partnership Agreement available for immediate download,Business partnerships can be an enjoyable, profitable and enduring form of a business relationship.

      Image Gallery business partnership agreement pdf

      Incoming search terms:

      • sinhala wal kello heluwen
      • sari jacket
      • student project proposal example
      • dibujos de emos enamorados para dibujar faciles
      • centro de mesa de la peppa
      • cute drawing ideas
      • confirmation of enrolment letter – template
      • Confirmation Accommodation
      • warehouse inspection form
      • Cartoon panda

      MRC

      Post navigation




      Partnership Agreement Template, Form, with Sample #business #email #address


      #business partnership agreement

      #

      You are using an unsupported version of Internet Explorer
      In order to continue using our website, please upgrade your browser by clicking here.

      Popular Documents

      Rocket Lawyer US

      We are here to help

      Family
      Finance
      Other
      Business Organization
      Business Operations
      Business Property

      We are here to help

      Use Rocketlawyer as:

      Make your Free
      Partnership Agreement

      How it works

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Build your
      document

      Save, print
      share

      Sign it
      Make it legal

      Learn more about Partnership Agreement

      Partnership Agreement Basics

      Ready to kick off a successful and satisfying new business partnership? You’ll want to use a Partnership Agreement between yourself and the other business partner or partners. Its terms define how the business partnership will be conducted, making it an important foundational document for running your new business.

      Use a Partnership Agreement if:

      • You are ready to form a Partnership and you want to define the business terms of the Partnership.

      View Sample

      Sample Partnership Agreement

      More than just a template, our step-by-step interview process makes it easy to create a Partnership Agreement

      Save, sign, print, and download your document when you are done.

      Other names for a Partnership Agreement:

      General Partnership Agreement, Business Partnership Agreement, Partnership Contract, Create Partnership

      Partnership Agreement Overview:

      Clear communication and a solid legal foundation helps get your business off to the right start. Whether you’re going into business with a friend or business colleague, you’ll want to define all the ins-and-outs of how you’ll run the partnership. A Partnership Agreement allows your business to prepare for common business scenarios, plan how a partner may leave, or how to handle disproportionate partnership contributions. Everyday misunderstandings between partners are also easily avoided by setting out clear business expectations in a Partnership Agreement. Other terms can cover interest, profits, contributions, buy-out options, and dissolution.

      Information needed for creating a Partnership Agreement:

      You’ll need to have some information at the ready to create your Partnership Agreement, but most of it you probably know off hand. We’ll guide you through the process with our step-by-step process so all you’ll have to do is answer a few simple questions. Here are some of the key provisions in a Partnership Agreement:

      • Partnership name. This will be the legal name of your partnership.
      • Business address. This is the physical address for the partnership. If there is none or only a post office box, then choose the address for one of the partners.
      • Names of Partners .
      • Effective date of agreement. This is the date that the partnership will begin. The date should be shortly after the Partnership Agreement is signed by all the partners.
      • Primary purpose of partnership. For example, to purchase and lease out residential real estate.
      • Voting requirements for partnership decisions. Generally, there are three options, including:
        • all partners have equal voting rights regardless of ownership percentage (meaning each partner has one vote);
        • all decisions require a majority vote with voting rights based on ownership percentage; or,
        • all decisions require unanimous vote.
      • Specify how costs will be shared among the partners. Typically this is according to ownership percentage. However, costs may also be assigned by percentages to each partner.
      • Specify how profits will be shared among the partners. Typically this is according to ownership percentage. However, profits may also be assigned by percentages to each partner.
      • Specify which partners will have authority to sign checks from the partnership account.
      • For each partner. specify how much (in specific amount) partner will contribute to partnership.
      • Specify deadline for partners to make contributions to partnership (specific date).
      • Specify who will maintain accounting of profits made by partnership. Typically, this is an accountant or one of the partners. This may be an accounting firm or a person.
      • Specify how often partnership finances will be audited. The choices include every six (6) months, once per year or upon majority vote of partners.
      • Specify the type of contribution account the partnership will maintain. This is the contribution account that will be used for all monies the partners give to the partnership. Each partner may have their own individual contribution account. Or, the partnership may have one large contribution account.
      • Specify type of accounting records partnership will maintain. This will be either cash basis or accrual basis.
      • Specify the partnership’s fiscal year-end. Will be last day of month chosen.
      • If partner withdraws from partnership. specify number of days the partnership, as an entity, will have to buy the withdrawn shares.
      • If partner withdraws from partnership and partnership chooses not to buy withdrawn shares. specify number of days partners will have to buy withdrawn shares. Please note, that if withdrawn shares are not purchased by the end of this period, the partnership will be dissolved.
      • Specify type of vote required to dissolve partnership. This may be unanimous, by a majority, single partner vote or some other method.

      Other documents for you and your business:

      Looking for business and partnership documents? Here are a few of our most popular:

      If you have any questions about what’s right for you and your business, we can connect you with a lawyer for quick answers or a document review.




      Business Opportunity, Franchise, Partnership Malaysia – AK Noodles House #business #invitations


      #business opportunity

      #

      Business Opportunity, Franchise, Partnership Malaysia

      Business Opportunity

      AK Noodles House welcomes business partners who are dynamic, aggressive, and have passion in food beverage industry to join our family.
      The initial capital involvement depends on the location and type of business.

      Ideal location

      The ideal location for AK Noodles House will be in high traffic areas such as shopping centers or office buildings with mixed of high rise condominiums/apartments. The size of AK Noodles House ranges from 700 sq.ft to 1, 000 sq.ft, subject to the needs based on estimation of customer volume.

      Requirements

      To ensure the food quality and service quality, AK Noodles House requires its business partners to be actively involved in the business, preferably on a full-time, hands-on basis. The business partner is required to complete an extensive, multi-weeks training program prior to commencement of the business.

      Below qualifications are essential in order to be considered as AK Noodles House business partners:

      1. Passion in F B business
      2. Strong desire to deliver exceptional customer service
      3. The ability to perform recruitment, training, motivation and implementation of standard operating procedures effectively.
      4. The ability to control food quality and customer service in line for highest customer satisfaction.
      5. A minimum of five years of managerial position is a must.
      6. Strong desire to succeed.

      One or more business partners are allowed to start and involve in the business operation together. To ensure long-term business continuity and avoid unnecessary conflicts due to ambiguity partnership, AK Noodles House strongly recommends the joint partnership establishes clear duties and responsibility, business organization structure and authority level in the form of writing.

      Protective territory

      Business partner will be granted a limited protective territory that comprises primary sources of customer in the selected location.

      Business start-up assistance and on-going support

      Intensive guidance will be given to business partner on location selection prior to the confirmation of location. Thereafter the design and renovation will be advised by AK Noodles House based on the characteristics of the location and traffic flow.

      Sixty (60) days before the commencement of business, AK Noodles House will provide full comprehensive trainings to guide the prior opening preparation and setting up. In addition, advertising and promotion materials like bunting, leaflets, banner, emails, newsletter, online promotion and etc, will be progressively launch in line with the business operation.

      In addition, throughout the co-operation period, comprehensive support will be given in areas of:

      1. Advertising and promotion
      2. Human resources support and training
      3. Business development
      4. Operation improvement
      5. Quality control and inventory control
      6. Others

      Profit and return

      The return of F B business is generous most important, this is CASH business!

      Profits will be affected by various variables factors including sales figures, the business partner’s ability to manage the operating cost such as financing cost, rental, food wastages, staff efficiency and performance and other.

      New potential partners are encouraged to view the performance of our existing business partners.

      Get started

      Please send us your personal profile with the information related to above mentioned requirement. And also tell us your target location and relevant information (if there is any) and we will contact you for an initial discussion and outline the next process steps.

      AK Noodles House

      Bringing you a food and beverage experience!

      To view some potential Shopping Malls. If you have any new locations wish to propose to us, kindly email us with the information.

      Johor Baharu

      Klang Valley

      Penang

      FOOD: AK Noodles House – 1 Utama, the “NEW” Old Wing
      It was one of those nights that I needed something light and soupy. Something hot to warm the tummy and something healthy (or rather, something that remotely resembling quality protein). Fish is a good choice. And Ah Koong Noodles Restaurant offers authentic fishballs made from fresh Wolf-Herring & Yellow Tail fish. Read more.

      Eat First Think Later

      AK Noodles House
      AK Noodles House at the Festive Street Mall, Danga Bay, Johor Bahru is a new shop selling the typical Malaysian noodles. The “mai fun”, the “mean”, the “hor fun” and “lou chi fun”. They also have curry noodles, Asam Laksa and side dishes like fish cakes and “Yong Tofu” to compliment all the noodle dishes. Read more.




      Business partnership #online #businesses


      #business partnership

      #

      A partnership is a single business where two or more people share ownership.

      Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the business.

      Because partnerships entail more than one person in the decision-making process, it’s important to discuss a wide variety of issues up front and develop a legal partnership agreement. This agreement should document how future business decisions will be made, including how the partners will divide profits, resolve disputes, change ownership (bring in new partners or buy out current partners) and how to dissolve the partnership. Although partnership agreements are not legally required, they are strongly recommended and it is considered extremely risky to operate without one.

      Types of Partnerships

      There are three general types of partnership arrangements:

      • General Partnerships assume that profits, liability and management duties are divided equally among partners. If you opt for an unequal distribution, the percentages assigned to each partner must be documented in the partnership agreement.
      • Limited Partnerships (also known as a partnership with limited liability) are more complex than general partnerships. Limited partnerships allow partners to have limited liability as well as limited input with management decisions. These limits depend on the extent of each partner’s investment percentage. Limited partnerships are attractive to investors of short-term projects.
      • Joint Ventures act as general partnership, but for only a limited period of time or for a single project. Partners in a joint venture can be recognized as an ongoing partnership if they continue the venture, but they must file as such.

      Forming a Partnership

      To form a partnership, you must register your business with your state, a process generally done through your Secretary of State’s office.

      You’ll also need to establish your business name. For partnerships, your legal name is the name given in your partnership agreement or the last names of the partners. If you choose to operate under a name different than the officially registered name, you will most likely have to file a fictitious name (also known as an assumed name, trade name, or DBA name, short for “doing business as”).

      Once your business is registered, you must obtain business licenses and permits. Regulations vary by industry, state and locality. Use our Licensing Permits tool to find a listing of federal, state and local permits, licenses and registrations you’ll need to run a business.

      Most businesses will need to register with the IRS, register with state and local revenue agencies, and obtain a tax ID number or permit.

      A partnership must file an “annual information return” to report the income, deductions, gains and losses from the business’s operations, but the business itself does not pay income tax. Instead, the business “passes through” any profits or losses to its partners. Partners include their respective share of the partnership’s income or loss on their personal tax returns.

      Partnership taxes generally include:

      • Annual Return of Income
      • Employment Taxes
      • Excise Taxes

      Partners in the partnership are responsible for several additional taxes, including:

      • Income Tax
      • Self-Employment Tax
      • Estimated Tax

      Filing information for partnerships:

      • Partnerships must furnish copies of their Schedule K-1 (Form 1065) to all partners by the date Form 1065 is required to be filed, including extensions.
      • Partners are not employees and should not be issued a Form W-2.

      The IRS guide to Partnerships provides all relevant tax forms and additional information regarding their purpose and use.

      Advantages of a Partnership

      • Easy and Inexpensive. Partnerships are generally an inexpensive and easily formed business structure. The majority of time spent starting a partnership often focuses on developing the partnership agreement.
      • Shared Financial Commitment. In a partnership, each partner is equally invested in the success of the business. Partnerships have the advantage of pooling resources to obtain capital. This could be beneficial in terms of securing credit, or by simply doubling your seed money.
      • Complementary Skills. A good partnership should reap the benefits of being able to utilize the strengths, resources and expertise of each partner.
      • Partnership Incentives for Employees. Partnerships have an employment advantage over other entities if they offer employees the opportunity to become a partner. Partnership incentives often attract highly motivated and qualified employees.

      Disadvantages of a Partnership

      • Joint and Individual Liability. Similar to sole proprietorships, partnerships retain full, shared liability among the owners. Partners are not only liable for their own actions, but also for the business debts and decisions made by other partners. In addition, the personal assets of all partners can be used to satisfy the partnership’s debt.
      • Disagreements Among Partners. With multiple partners, there are bound to be disagreements Partners should consult each other on all decisions, make compromises, and resolve disputes as amicably as possible.
      • Shared Profits. Because partnerships are jointly owned, each partner must share the successes and profits of their business with the other partners. An unequal contribution of time, effort, or resources can cause discord among partners.



      Partnership – Small Business Encyclopedia #business #applications


      #partnership business

      #

      Partnership

      Definition:A legal form of business operation between two or more individuals who share management and profits. The federal government recognizes several types of partnerships. The two most common are general and limited partnerships.

      If your business will be owned and operated by several individuals, you’ll want to take a look at structuring your business as a partnership. Partnerships come in two varieties: general partnerships and limited partnerships. In a general partnership, the partners manage the company and assume responsibility for the partnership’s debts and other obligations. A limited partnership has both general and limited partners. The general partners own and operate the business and assume liability for the partnership, while the limited partners serve as investors only; they have no control over the company and are not subject to the same liabilities as the general partners.

      Unless you expect to have many passive investors, limited partnerships are generally not the best choice for a new business because of all the required filings and administrative complexities. If you have two or more partners who want to be actively involved, a general partnership would be much easier to form.

      One of the major advantages of a partnership is the tax treatment it enjoys. A partnership doesn’t pay tax on its income but “passes through” any profits or losses to the individual partners. At tax time, the partnership must file a tax return (Form 1065) that reports its income and loss to the IRS. In addition, each partner reports his or her share of income and loss on Schedule K-1 of Form 1065.

      Personal liability is a major concern if you use a general partnership to structure your business. Like sole proprietors, general partners are personally liable for the partnership’s obligations and debts. Each general partner can act on behalf of the partnership, take out loans and make decisions that will affect and be binding on all the partners (if the partnership agreement permits). Keep in mind that partnerships are also more expensive to establish than sole proprietorships because they require more legal and accounting services.

      If you decide to organize your business as a partnership, be sure you draft a partnership agreement that details how business decisions are made, how disputes are resolved and how to handle a buyout. You’ll be glad you have this agreement if for some reason you run into difficulties with one of the partners or if someone wants out of the arrangement.

      The agreement should address the purpose of the business and the authority and responsibility of each partner. It’s a good idea to consult an attorney experienced with small businesses for help in drafting the agreement. Here are some other issues you’ll want the agreement to address:

      • How will the ownership interest be shared? It’s not necessary, for example, for two owners to equally share ownership and authority. However, if you decide to do it, make sure the proportion is stated clearly in the agreement.
      • How will decisions be made? It’s a good idea to establish voting rights in case a major disagreement arises. When just two partners own the business 50-50, there’s the possibility of a deadlock. To avoid this, some businesses provide in advance for a third partner, a trusted associate who may own only 1 percent of the business but whose vote can break a tie.
      • When one partner withdraws, how will the purchase price be determined? One possibility is to agree on a neutral third party, such as your banker or accountant, to find an appraiser to determine the price of the partnership interest.
      • If a partner withdraws from the partnership, when will the money be paid? Depending on the partnership agreement, you can agree that the money be paid over three, five or 10 years, with interest. You don’t want to be hit with a cash-flow crisis if the entire price has to be paid on the spot on one lump sum.



      Partnership Agreement #business #startup #loans


      #business partnership agreement

      #

      Partnership Agreement

      Document Overview

      Have you recently formed a Partnership? It is important to have a Partnership Agreement between you and your partners to set the business conduct of the Partnership. A Partnership Agreement is necessary as a foundation of your business partnership, ensuring that your interests, and that of your partners, are aligned and protected. Apart from reflecting clearly what business terms the partners agree on, a Partnership Agreement also provides guidance to mediate any disputes that may arise.

      Use this Partnership Agreement if:

      • You are entering into a Partnership and will like to lay down the rules of the Partnership.

      What does the Partnership Agreement cover?

      • Partnership name and business address;
      • Names of the partners;
      • Effective date of agreement, and commencement of Partnership;
      • Maintenance of the Partnership account;
      • Duties and limitations of each partner;
      • Sharing of capital and property, profit or losses;
      • Operation of partner s shares;
      • Rules governing dissolution of the Partnership;
      • Terms concerning retirement, death, or expulsion of a partner; and
      • Dispute resolution.

      Other names for Partnership Agreement include:

      • Partner Agreement; and
      • Partnership Contract.
      • suitable for all Australian states and territories
      • last updated July 2014
      • under 15 minutes

      Get a Quick Quote

      Let us find you a lawyer who can draft a Partnership Agreement specific to your needs. Our Quick Quotes technology saves you time and gives you the choice of up to 3 fixed-price quotes from over 600+ expert lawyers.

      1. Submit quote request

      Fill out the quote request form. Provide as much detail as possible so we can source you the most accurate quotes.

      2. Receive 3 fixed-price quotes in 4 hours

      Save time shopping around town. You will receive 3 fixed-price quotes from our 600+ trusted and verified lawyers.

      3. Connect with your lawyer

      Once you have chosen your quote, your lawyer will contact you via phone or email to begin working on your job.