Updated February 11, 2022
A New York partnership agreement is a legal record that explains how multiple parties will manage business operations. It states liabilities, dispute resolution, dissolution, ownership interests, and duration. The contract should be thorough for the sake of limiting conflicts in the future.
Partnership Types
- General Partnerships (GP) – PTR Chapter 39 (§§ 1-126)
- Limited Partnership (LP) – PTR Chapter 39, Article 8-A (§§ 121-101 through 121-1300)
- Limited Liability Partnership (LLP) – PTR Chapter 39, Article 8-B (§§ 121-1500 through 121-1507)
- Limited Liability Companies (LLC) – LLC Chapter 34 (§§ 101-1403)