Updated February 12, 2022
A Rhode Island partnership agreement is a record that describes the management structure of a partnership. It typically settles duration, dissolution, ownership interests, dispute resolution, and liabilities. The contract needs to be very comprehensive for the sake of avoiding future disagreements and confusion.
Partnership Types
- General Partnerships (GP) – Title 7, Chapter 7-12 (§§ 1-60)
- Limited Partnership (LP) – Title 7, Chapter 7-13 (§§ 1-69)
- Limited Liability Partnership (LLP) – § 7-12-56
- Limited Liability Companies (LLC) – Title 7, Chapter 16 (§ 1-76)