A Georgia partnership agreement allows its participants to set the authority, contributions, and responsibilities of every business partner that signs it. Executing this agreement before entering a business partnership is often considered a wise course of action because it requires a binding signature showing a partner’s acknowledgment and acceptance of its provisions. This is important because this agreement will cover the liability or risk that each partner will carry in the Georgia business and will handle what should happen when a partner withdraws from the business or when the business will adopt a new partner.

As with any business venture, every member of the partnership should make a strong effort in understanding the market their company will conduct business in and what their requirements for the entity will be.

State Definition

Georgia Statute § 14-8-10.1

“A statement of partnership in the name of the partnership, signed by all of the partners and witnessed and notarized, may be recorded in the office of the clerk of the superior court of any county and shall be recorded by such clerk in a book to be kept for that purpose and open to public inspection. If the partnership shall desire to file such a statement in more than one county, a transcript of the statement, duly certified by the clerk in whose office it was originally filed, under such clerk’s official seal, shall be filed and recorded in like manner in the office of the clerk of the superior court in every such county. As a prerequisite to such filing, the clerk of each such registry may collect a fee in the amount of the fee then allowed for the filing of certificates of limited partnerships.”