Benefits of having a written partnership agreement.
Many business partners simply don’t have a written agreement in place.
While this can be ok during the good times it can become troublesome and expensive to resolve disputes, especially if the terms of the partnership have not been properly documented in writing.
Partnership agreements can pre-emptively act to head off disputes as they layout clear obligations, rights and dispute resolution methods.
Resolving disputes quickly can mean that the commercial relationship is not damaged and can be quickly corrected if you do have an issue. Furthermore, it will enhance the business brand and image if the partners are in sync
