Small Business Partnership Agreement Example

  • 2 min read
  • Feb 13, 2020

A Small Business Partnership Agreement is a legal document that is signed by both the contractor and the company in which the contract has been executed. It is a form of contract between the parties. It sets forth the terms and conditions of the business relationship between the two parties, and a contract between a contractor and his client. In many cases, the hiring of labor is for the sole purpose of engaging in business.

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When you have decided to hire your employee to carry out work on your premises, you need to make sure that you have drafted a form of contract that will bind the parties in case of any disputes later on. As a contractor, you can draft a Small Business Partnership Agreement (SBA) for yourself and a copy should be given to your client, preferably before the start of work. There are several important provisions in this type of agreement, one of which is that the provisions are intended to limit your liability for negligence.

A Small Business Partnership Agreement is a contract that is entered into between the owner of the enterprise and his contractor. It stipulates the details of the business relationship and obligations of both parties. The agreement should specify the rights and liabilities of both parties. If there are any discrepancies, you should immediately notify your attorney so that he can proceed with the best possible solution for the said issues.

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It is advisable to always have a contract in place to make sure that your employees do not violate any clauses of the Small Business Partnership Agreement. It is even more important to ensure that any lawsuits that may occur are pre-planned and should be filed before any lawsuits arise. If you are hiring your employees for the sole purpose of engaging in business, you should use this contract so that you will not be caught unaware in case of any difficulties later on.

Even if the business is already underway, you should keep a copy of the Small Business Partnership Agreement ready at all times. You can put it in a folder and have it at hand whenever the parties get involved in any disputes. This way, any future changes in the working arrangement would not take place without prior notice.

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The last thing that you need to do is to clearly outline all your obligations when you enter into a Small Business Partnership Agreement. This will be a vital factor to the court, should it ever come to trial as it will outline the terms and conditions of the relationship.

If you are a company owner, hiring your employees is essential for the growth of your company, and doing so on a small scale is usually the best option. By having a strong contract in place, you can be assured that the employees will abide by all of the terms and conditions of the agreement.

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