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LSDefine

Simple English definitions for legal terms

partnership agreement

Read a random definition: albus liber

A quick definition of partnership agreement:

A partnership agreement is a special paper that tells partners what they should do and what they can expect from each other. It's like a promise that they make to each other. This paper doesn't talk about how they should treat other people outside of their partnership. Another name for it is articles of partnership.

A more thorough explanation:

A partnership agreement is a legal contract that outlines the rights and responsibilities of partners towards each other. It does not cover the relationship between the partners and third parties. It is also known as articles of partnership.

For example, if two people decide to start a business together, they may create a partnership agreement that outlines how profits and losses will be shared, how decisions will be made, and what happens if one partner wants to leave the partnership.

Another example could be two doctors who decide to open a medical practice together. They may create a partnership agreement that outlines how they will share expenses, how they will divide patient care responsibilities, and how they will make decisions about the practice.

These examples illustrate how a partnership agreement can help partners clarify their roles and responsibilities, avoid misunderstandings, and protect their interests.

partition in kind | partnership association

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what are pro/cons of PI and BL money and work hours aside?
soap
11:31
PI: more satisfying work, you're supporting a cause that feels moral
soap
11:32
BL: connections, opportunities to travel and attend exclusive events?
Finally I had another UVA status change
11:32
BL pay is also significantly higher
2 months after applying lmao
11:32
ah wait, never mind, you said time and money aside
WorthlessAttractiveZombie
11:32
@texaslawhopefully: what stage of UR are you at (1,2,3,4...)
I think that’s 2
soyalmondoatmilk
11:33
@texaslawhopefully: do u want to work in texas post-grad?
I was at the first like 9/27
@soyalmondoatmilk: yep!
starfishies
11:33
I also just got to UR2 woo but I applied like 11/1
soyalmondoatmilk
11:33
omg so cool! i want to work in texas too!
Are you from Texas?
WorthlessAttractiveZombie
11:34
Mine was like UR1 9/25, UR2 9/26, UR3 10/15...then radio silence
soyalmondoatmilk
11:34
yes!
starfishies
11:34
yeah i expect silence until like march lmao as a best case scenario if they get back sooner imma assume its an R
soyalmondoatmilk
11:34
i wanna give back to my community
@WorthlessAttractiveZombie: yeah, I probably shouldn’t get my hopes up lol
starfishies
11:35
it was just nice to see some life in my status checker
WorthlessAttractiveZombie
11:35
texas, you probably dont need to worry, you will be fine lol
Yeah, it’s just odd. All the people with similar stats who applied in sept already got in
triplethread
11:36
@snow: its so frustrating LOL i will be back in a few days just so im not checking every day with no movement. i think if i come back in after a little break and get some URs I will be happier
triplethread
11:37
i will see you guys next week
soap
11:39
I'm looking at profiles of people working at unicorn PI firms, and boy, do I feel behind in life XD
HopefullyInLawSchool
11:44
Salutations on this brisk morning from Santa Barbara
babycat
11:48
I met a public defender the other day who told me she was the only one of her classmates who didn't end up changing careers and it's bc she loves her job
snow
11:50
criminal defense is where its at
starfishies
11:50
i fully expect to change my career again but i think its just cause i dont like any jobs lol
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