PARTNERSHIP AGREEMENT - LEGAL PRACTICE
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At a Glance
Suitable of implementation in a legal practice partnership that is already trading and seeks to expand. The agreement contains:
§ Provisions for each partner to appoint a ‘Principal’ (managing partner)
§ Each principal can be a partner or not
§ Principals undertake management duties
§ Principals receive salary in addition to profit for performance of management duties
§ Formula for calculating the retirement value of the share of outgoing partners
This Partnership Agreement is approximatley 25 page long.
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