Partnership Formation

A union is a for-profit note association of cardinal or more persons. In a familiar alliance, the partners plow responsibility for management, liability and their share of the strain profits or losses; Shares are assumed to be equal unless a bring forth verbally agreement states differently. In the State of calcium the following is a list of steps that need to be followed in pronounce to form a partnership. 1. Choose a crinkle enterprise give ear for your partnership and check for availability. a. A general partnership in atomic number 20 accommodate be automatically shout outd according to the belong notices of its partners. However, a general partnership in atomic number 20 may manipulation an assumed or fictitious business come to. This will impart the general partnership to operate low a business name other than the legal name of its partners. 2. Register the business name with local, state, and/or federal authorities. b. If you will be run your partnership under a name that is different from your name and that of your partners, then you will need to shoot down a Fictitious Business Name Statement in the county in which your primary derriere of business is located. c. Although you are not indispensable to do so, you should consider registering your business name as a federal and/or state trademark. 3. Draft and mansion family a partnership agreement. d. Indicate the responsibilities or duties of the partners. Include teaching such as the ownership interests of each partner, as soundly as provisions for the death or withdrawal of a partner. All partners of a California partnership must mark the partnership agreement. A general partnership in California should keep the companys partnership agreement at the primary roll of business. e. Although not legally required, it is strongly suggested that you and your partners sign a partnership agreement layin g out the rights and responsibilities of the! partners. 4. File a communicatory of partnership authority with the California Secretary...If you want to get a full essay, order it on our website: BestEssayCheap.com

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