According to the Civil Code of Québec, a partnership contract involves partners working together toward a common goal, combining resources, knowledge, or activities, and sharing any resulting profits.

Yes, a partnership can be formed through a verbal agreement. However, proving the partners’ intentions or the existence of the contract may be challenging.

Yes, certain laws require written agreements for partnerships, especially for members of professional orders forming limited liability partnerships. These agreements must specify the partnership’s status clearly.

A well-drafted partnership contract is essential for establishing a business and can help resolve disagreements among partners. It defines the partnership’s formation and sets guidelines for the relationship.

Yes! Managing a business is tough, even with trusted friends or family members. Disagreements can occur, so having a partnership agreement will help you handle any issues more effectively.

Yes, we always incorporate a dissolution clause in our partnership agreements. This clause outlines the procedures for resolving disagreements, exit strategies, and how a partner can withdraw from the partnership.

Yes, we advise updating a partnership agreement every few years to ensure it aligns with the current intentions and needs of the partners.

No, if you operate a corporation, you require a shareholder agreement instead of a partnership agreement..

Yes, a partnership agreement is a legal document, so it’s advisable to have a lawyer assist you with the drafting process.

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