Outlining the terms and conditions agreed upon by two or more parties entering into a business partnership, a business partnership agreement is a legally binding contract. Generally, this agreement contains information on the roles and duties of each partner, ownership percentages, decision-making methods, profit-sharing plans, dispute resolution procedures, and procedures for ending the partnership if needed. A smooth and profitable commercial connection is fostered by the agreement's precise definition of these partnership's facets, which helps to avert future misunderstandings and disputes.
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