A partnership is an arrangement in which parties, in this case called business partners, agree to work together to advance their mutual interests. The partners in a partnership may be individuals, corporations, interest-based organizations, or combinations of the previous. A partnership may result in the issuance and holding of equity, or it may be governed solely by contract.

In its simplest form, equity partners hold a fixed interest in the partnership and, when profits are distributed, receive a portion of the partnership’s profits in proportion to that interest. In more sophisticated partnerships, there are various models for determining either ownership, profit sharing, or both.

Make your business a win-win situation for each partner. And don’t let the complexity overwhelm you. I can help you!