Updated February 12, 2022
A Utah partnership agreement is a legally binding record that describes business operations under two or more parties. It frequently documents dissolution, ownership interests, duration, liabilities, and dispute resolution. The contract must be as exhaustive as possible in order to curtail conflicts in the future.
Partnership Types
- General Partnerships (GP) – Title 48, Chapter 2e, Part 4 (§§ 401-409)
- Limited Partnership (LP) – Title 48, Chapter 2e, Part 3 (§§ 301-306)
- Limited Liability Partnership (LLP) – § Title 48, Chapter 1d, Part 11 (§§ 1101-1109)
- Limited Liability Limited Partnership (LLLP) – § 48-2e-102
- Limited Liability Companies (LLC) – Title 48, Chapter 3a (§§ 101-1405)