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...Checklist for creating a partnership agreement consider formation options review robert k winger lawyers as pcs llcs and llps practice aid from startup to endgame form of entity considerations your law cle available at www osbplf org recite all necessary details include the names addresses partners name purpose intent term where principal office will be located s fiscal year whether books kept on cash or accrual basis describe in detail capital including any loans itemize assets contributed by original separate schedules attached goodwill clause if desired terms addressing contributions subsequent refer this article more information http blog olmsteadassoc com olmstead associates p accounts new firm html how profits losses income expenses allocated special conditions may accrued but not yet due such lease procedure draws consequences debit balance given partner drawing account specify management duties among participation committees list restrictions authority engaging another occupati...