Articles Of Partnership

A document that formalizes an agreement between parties who want to enter a business arrangement to pool their labor and capital and in which all owners are equally responsible for the company's liabilities and entitled to its assets according to agreed-upon percentages. In addition to being an important legal document, the articles of partnership can be useful in preventing and resolving disagreements among partners since it clarifies the terms of the relationship.

The articles of partnership will typically supply the name of the partnership, its principal place of business, the purpose of the business, term of the partnership, each partner's initial capital contribution, each partner's percentage of interest in the partnership, how profits will be distributed, how the partnership will be managed, how salaries (if any) will be distributed, how and under what conditions partnership rights can be transferred or sold, and other information that is essential to the business arrangement.

Investment dictionary. . 2012.

Look at other dictionaries:

  • Articles of Partnership — is a voluntary contract between two or among more than two persons to place their capital, labor, and skills, and corporation in business with the understanding that there will be a sharing of the profits and losses between/among partners.… …   Wikipedia

  • articles of partnership — the agreement between the partners establishing the partnership. The matters normally dealt with in articles of partnership are the firm s name, the duration of the partnership, capital and provision for dissolution. Many provisions of the… …   Law dictionary

  • articles of partnership — See: partnership agreement …   Accounting dictionary

  • articles of partnership — See partnership agreement …   Big dictionary of business and management

  • articles of partnership — /ˌɑ:tɪk(ə)lz əv pɑ:tnəʃɪp/ plural noun same as partnership agreement …   Dictionary of banking and finance

  • articles of partnership — Fin see partnership agreement …   The ultimate business dictionary

  • articles of partnership — A written agreement by which the parties enter into a partnership upon the terms and conditions therein stipulated …   Black's law dictionary

  • articles of partnership — The agreement signed by the members of a partnership by which they are bound together as partners …   Ballentine's law dictionary

  • partnership — part·ner·ship n: an association of two or more persons or entities that conduct a business for profit as co owners see also uniform partnership act in the important laws section compare corporation, joint venture, sole pro …   Law dictionary

  • articles — index commodities, merchandise, paraphernalia (apparatus) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

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