Partnership agreements do not have a particular legal definition. They are hybrid agreements used to govern the commitments made by each party for the duration of a partnership: agreement to purchase, price lists, sales operation support services, etc.
Each party’s duties are set out as required, in accordance with the parties’ wishes.
Advantages of a partnership:
Flexible and tailored, the parties’ will is paramount, there are no legal constraints.
Downsides of a partnership:
Partnerships can be reclassified as a more onerous contract: a franchise contract which then means that genuine assistance and know-how must be provided, a contract subject to the labour code if the partner is not really free and independent, etc.
To be handled with care therefore and with the help of specialist lawyers!
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