A Rhode Island partnership agreement is a collection of a company’s guidelines that have been developed and then executed as a contract by Rhode Island business partners. This document will mainly concern itself with defining these partners through their status, level of managerial authority, and voting powers. Furthermore, it will also fully define the partnership as an entity under the Rhode Island partners by setting every rule the company must follow to paper along with its tax status.
The Rhode Island partners are encouraged to make sure that their agreement is comprehensive by sharing their research during its negotiation and keeping a consistent level of communication before and after it is executed.
State Definition
“(a) A partnership is an association of two (2) or more persons to carry on as co-owners a business for profit, and includes a registered limited liability partnership.”
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