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When two or more people come together to form a business relationship, the legal presumption is that a partnership has been created, absent of any documentation or agreement. While a Partnership Agreement is not a requirement to act as a partnership, it is an important document to have from the beginning in order to outline the intentions of the relationship throughout the businesses lifecycle.

When you are starting a business it’s important to understand the different ways that businesses can be structured and the advantages and disadvantages of each structure to help you determine which one best meets your individual circumstances.