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A Partnership Without a Partnership Agreement: The Default Rules

Cari Rincker March 14, 2023 Business Law Leave a Comment

Forming a partnership in Illinois is exceedingly simple; that is the main draw of this kind of business organization.  There are typically no formalities required; rather, a partnership is presumed whenever two or more parties come together in business with an implied or express agreement to share the profits that the business generates.  Unlike other business formations, such as LLCs …

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      • Estate Planning Myths
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    • Probate and Estate Adminstration
    • Family and Matrimonial Law
      • ← Back
      • Child Support
      • Custody and Visitation: Allocation of Parental Responsibilities
      • Divorce and Separation
        • ← Back
        • Uncontested Divorces
        • Mediation Consulting Attorney Representation
        • Collaborative Divorce
      • Domestic Violence, Orders of Protection, and No Contact Orders
      • Farm and Ranch Divorces
      • Guardianships
      • Name Changes
      • Prenuptial and Postnuptial Agreements
      • Spousal Maintenance
    • Food and Agriculture Law
      • ← Back
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      • Food and Agriculture Contracts
      • Agriculture Leases
      • Food Labeling Compliance
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