You may include a provision that all workplace relationships are also prohibited, such as those between partners and employees, or partners and clients, or partners and investors, etc., thus ensuring that all business-related relationships are protected.
All parties agree to enter into the agreement by adhering to a strictly professional relationship. If any parties are found to have workplace relationships that have not been communicated to and recognized by the HR department, then they may be asked to terminate their partnership, or be faced with a penalty.
Distribution of Assets and Liabilities
All partners agree that all losses or liabilities, just like assets and profits, will be divided equally amongst all partners. All business partners will routinely undertake a plan of action on how to mitigate liabilities, losses, and overall risk.
Terms and Conditions
All partners agree to accept all terms and conditions mentioned in this agreement, and give their consent to move forward, without needing any modifications in the agreement.
By signing below, the listed individuals certify that they have full authority to represent the partners to this agreement, and hereby enter into this small business partnership agreement.