Partnership agreements are strongly recommended for both general and limited partnerships. They reduce the risk of potential quarrels.
Legal advice should be sought when drawing up a partnership agreement. There are no specific requirements concerning the content but the agreement should include the following points:
- The contracting parties and the subject matter of the agreement
- The name, purpose and registered office of the company
- The partners’ capital contribution
- The partners’ meeting and decision-making arrangements
- The management, representation, voting rights, rights, obligations, etc.
- Compensation and sharing of profits and losses
- Working hours and holiday regulations
- Departure, termination, closure