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In many cases one person is the ostensible partner (active), and one is a general or limited. This means that active partner might be able to make decisions on their own rather than having to confront or discuss it with their partner. The contributions also include whose money is going to what, as well as who is in charge of employee management.
Business expenses and how they are handled should also be included in a partnership agreement. Which partner does the books, records, and method of accounting would be included in the business expenses. The partners also need to decide how to separate debts, and decide how the profits/losses should be divided...
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Common topics in this essay:
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