Advantages of Partnership Aggrement:

★ Clarity on roles and responsibilities: A partnership agreement can clearly define each partner's roles and responsibilities, including their respective contributions to the partnership, the management structure, and decision-making processes.

★ Protection of individual interests: A partnership agreement can protect the individual interests of each partner by establishing how profits and losses will be allocated, how disputes will be resolved, and what happens in the event of a partner's death or departure from the partnership.

★ Increased stability: Having a partnership agreement can help increase the stability of the partnership by establishing clear rules and procedures for the operation of the partnership. This can help prevent disputes and misunderstandings that could otherwise destabilize the partnership.

★ Flexibility: A partnership agreement can be tailored to meet the specific needs of the partners and the partnership. Partners can agree on terms that work best for them, including the length of the partnership, the distribution of profits and losses, and the rights and responsibilities of each partner.