Is it required that the Partnership agreements need to be in writing?

Do partnership agreements need to be in writing?

Answer (1)

Team Legistify

  • Sector-1, Noida

Partnerships are unique business relationships that don't require a written agreement. However, it's always a good idea to have such a document. Because partners share profits equally in the absence of a written agreement, you could run into situations where you feel that you're doing all of the work, but your partner is still getting half of the profits. It's always smart to cover major issues related to your business in writing.

Answered on 28 Sep 2018


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