A partnership deed and partnership agreement is a written legal document that outlines the terms and conditions of partnership among the partners of a firm. A clear understanding among partners is required regarding the various policies governing their partnership for smooth and successful running of a partnership firm. This purpose is served by the partnership deed. It specifies the various terms such as profit and loss sharing, interest on capital, drawings, salary, admission of a new partner, etc. in order to bring clarity.
A few of the most substantial benefits of partnership agreement are as follows-
A partnership deed contains the following details-
A legal expert is required to draft the legal document to make it precise and accurate.
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