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Negotiating and Drafting Effective Partnership Agreements

Learn effective agreement techniques to ensure managing partnership agreements can be clearly defined.

A partnership agreement can make or break a business. A poorly drafted agreement can cause confusion and wreak havoc if it doesn't properly reflect the intentions and nature of the partnership. However, an effective partnership agreement that clearly defines the structure, roles, expectations, and contingencies can be an invaluable tool that the partners refer to for guidance throughout the life of the business. In this material, we'll review the basics of partnerships, discuss the essential questions you should be asking your client, and address the many aspects of the partnership agreement (such as money, management, and dissolution issues) on which you should be advising your client.

Runtime: 87 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Brief Review of Partnerships

Types of Partnerships: Structure Is Key

Specific Concerns: Questions to Ask

Money

  • Allocation of Net Income and Net Loss
  • Accounting Methods and Tax Elections

Management

  • Managing the Partnership vs. Managing the Enterprise
  • Management Committee Functions
  • Managing Partner Functions
  • Prohibited Acts of Managers
  • Compensation of Partners
  • Representations and Warranties

Wind up and Dissolution of Partnerships

Partnerships With Legal Entities

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 19, 2018.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.25
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.25 CLE hours of participatory credit.
     
  • OH CLE 1.5
     
  • This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.5 CLE credit hours. Please note: No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
     
  • OR CLE 1.25
     
  • Approved for 1.25 CLE credits in Oregon.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.

This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Noel R. Bagwell, III, Esq.

Noel R. Bagwell, III, Esq.

Executive Legal Professionals, PLLC

  • President and chief legal counsel at Executive Legal Professionals, PLLC (ExecutiveLP®)
  • Practice emphasizes all aspects of preventive law for start-ups and entrepreneurs, especially in connection with business formation, outside general counsel, franchising, and small business mergers and acquisitions
  • Conducts regular seminars and workshops on numerous preventive law, start-up law, small business law, small business mergers and acquisitions, contracts, franchising, and other small business legal services
  • Written several publications related to the areas of preventive law for start-ups and small businesses
  • Member of the Nashville Bar Association and Tennessee Bar Association
  • J.D. degree, Cumberland School of Law at Samford University, Birmingham, AL; B.A. degree in philosophy, Austin Peay State University, Clarksville, TN
  • Can be contacted at 615-716-0606, [email protected] or on Twitter® @ExecutiveLP
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 399933
Published 2018
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