Updated February 12, 2022
A Pennsylvania partnership agreement is a legally binding document that lays out how multiple parties involved will operate the business. It frequently affirms duration, liabilities, dispute resolution, dissolution, and ownership interests. The agreement has to be as detailed as possible in order to reduce disagreements in the future.
Partnership Types
- General Partnerships (GP) – Title 15, Chapter 84 (§§ 8411-8486)
- Limited Partnership (LP) – Title 15, Chapter 86 (§§ 8611-8695)
- Limited Liability Partnership (LLP) – Title 15, Chapter 82 (§§ 8201-8244)
- Limited Liability Limited Partnership (LLLP) – Title 15, Chapter 82 (§§ 8201-8244)
- Limited Liability Companies (LLC) – Title 15, Chapter 88 (§§ 8811-8898)