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Contracts

Business Partnership Agreement

Tennessee

Asked on May 11, 2022

Zied kefi partnership

I wanna open restaurant with my friend and make legal partnership documents

1 Attorney answer

Answer

Contracts

Tennessee

Answered 9 days ago

Rebecca R.

ContractsCounsel verified

Business Lawyer
Licensed in Tennessee
Free Consultation

You have the right idea to put the partnership in writing. Your attorney will be able to help you think through several issues: investment into the business, operating the business, the potential to add more partners or investors, and an exit strategy for each partner or both partners. The document to start with is a business partnership agreement that outlines the ground rules for your partnership based on the Tennessee law. It can be a very straightforward document, or more complex depending on your needs. For instance, you may also want to create a statement of partnership authority which designates which partners have the authority to enter into agreements on behalf of the partnership, or it may limit the authority of certain partners. This is the kind of business agreement I help small business owners with regularly, and I invite you to request a bid for my services on your project through ContractsCounsel.

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