Partnership Agreements

Every person who wants to succeed and control their own destiny should consider  venturing into a business or a profession and this may mean the creation of a partnerships with trusted people.

Partnerships are businesses owned by at least two people.  They are based on two things – trust and confidence.  Each partner should be able to trust the other and each partner should have the confidence that every single one of them would do their part.

With the creation of a partnership, they form one business entity to carry on transactions that would bind the partnership and all partners. This one requires one legal step and that is the notarization of the partnership agreement before venturing into anything else.

What are the steps in notarizing partnership agreements? 

The first step is by making sure that you have all of the partnership forms that you need. Fill them out correctly and make sure that you have all the details lined up through a draft.  Making drafts before the final copy is a good way to prevent unnecessary costs.

Run everything by your partners and make sure that everybody understands everything.

The second step is to contact the people from the state government and ask them about all of the details that you need.  Every State has a different set of requirements and every partnership has a different need. Make sure that you have a checklist before going to the notary public to get the documents notarized.

Third, fill out the form as truthfully as you can.  You should always make sure that you have every detail lined up perfectly so you would not have any other problem in the future. How many properties does the partnership have? How much would each partner contribute?  These are just some of the questions that you would need to know.

Finally, take the partnership agreement, go take it to the notary public, get it notarized, submit the document to your local or state government and you are good to go.

Of course, every State would have a different set of requirements so the process might be a little different from one to the next but these are the steps that every person generally has to take in order to register a partnership in the State registry so they can start the business.

What happens next?

After getting your partnership agreement notarized, you should make sure that you are ready to get the ball rolling on your business venture. Trust in the process and make sure that you ask the notary about any other documents that would require action by a notary so you can legally take care of the partnership that you are creating.