When forming a partnership with a friend or loved one, is it advisable to write a partnership agreement? Creating a legal document may seem like such a formal action to take with someone with whom you may be on very informal or even intimate terms. Nevertheless, an attorney that focuses on business organizations knows that it usually a good idea to write a partnership agreement.
As a practical matter, writing an agreement can be a useful tool for strategic thinking. Although unexpected problems may always arise during the course of a business, a partnership agreement can at least start the process of proactive planning.