Short text questionWhat is the name of the legal document signed by the owners of a partnership?

The legal document signed by the owners of a partnership is called a "Partnership Agreement." This document outlines the terms and conditions under which the partnership operates, detailing the roles and responsibilities of each partner, profit-sharing arrangements, decision-making processes, and provisions for resolving disputes. The Partnership Agreement serves as a foundational element for any partnership, ensuring that all parties are aligned and aware of their obligations and rights. It is crucial for preventing misunderstandings and conflicts in the future. This document can also include clauses addressing the addition of new partners, withdrawal of existing partners, and procedures for dissolution of the partnership if necessary.