The rules for winding up a partner`s departure due to the death or withdrawal of the transaction should also be included in the agreement. These conditions could include a purchase and sale agreement detailing the valuation process or require each partner to purchase life insurance that designates other partners as beneficiaries. The sources of the original compensation are rarely visible outside law firms. The principle is simple: each partner receives a share of the profits from the partnership up to a certain amount, with all the additional profits distributed to the partner responsible for the „source” of the work that generated the profits.  A partnership agreement is a contract between two or more people who wish to manage and manage a joint venture to make a profit. Each partner shares a portion of the partnership`s profits and losses and each partner is personally responsible for the debts and obligations of the partnership. The Mongols adopted and developed the concepts of responsibility for investment and lending in Mongolian Ortoq partnerships to promote trade and investment to facilitate the commercial integration of the Mongol Empire. The contractual characteristics of a Mongolian Ortoq partnership were similar to those of the Qirad and Commenda agreements, but Mongolian investors used metal coins, paper money, gold and silver bacon and tradable goods for partnership investments and financed mainly lending and trading activities.  In addition, Mongolian elites have entered into commercial partnerships with traders in Central Asia and Europe, including Marco Polo`s family.
 As part of the partnership agreement, individuals are committed to what each partner will bring to its activities. Partners may agree to pay capital to the company in the form of a cash contribution to cover start-up costs or equipment contributions, and services or real estate may be mortgaged as part of the partnership agreement. As a general rule, these contributions determine the percentage of each partner`s ownership in the business and are, as such, important conditions under the partnership agreement. A silent or dormant partner is one who still participates in the profits and losses of the company, but does not participate in its management.  Sometimes the silent partner`s interest in the operation will not be publicly known. A silent partner is often a partnership investor who is entitled to a stake in the benefits of the partnership. Silent partners may prefer to invest in limited partnerships to insulate their personal assets from the debts or liabilities of the partnership. While these free models of online business partnership agreements are gratifiable to help you get started and think about what should be included in your agreement, it`s always best for legal advisors to review your draft contract and help you review and finalize the document before signing.