Updated February 12, 2022
A Virginia partnership agreement is a legally binding document that breaks down the management structure of a partnership. It usually conveys dissolution, ownership interests, dispute resolution, liabilities, and duration. The agreement must be meticulous to curtail disagreements in the future.
Partnership Types
- General Partnerships (GP) – Title 50, Chapter 2.1 (§§ 73.1-73.78)
- Limited Partnership (LP) – Title 50, Chapter 2.1 (§§ 73.1-73.78)
- Limited Liability Partnership (LLP) – Title 50, Chapter 2.1 (§§ 73.1-73.78)
- Limited Liability Limited Partnership (LLLP) – § 50-73.78(2)
- Limited Liability Companies (LLC) – Title 50, Chapter 2.1 (§§ 73.1-73.78)