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Partnership agreements

Region: Ontario Answer # 214

If you decide to form a partnership, you should put a partnership agreement in place. A partnership can exist without having a formal, legal partnership agreement, but such an agreement can help you avoid problems.

A partnership agreement establishes rules about how the business is going to be run. It usually includes such things as:

  • who the partners are,
  • what bank the business will use,
  • how the profits or losses of the business are to be divided among the partners,
  • what the capital contribution of each partner will be,
  • what the role and responsibilities of each partner will be, and
  • how the partnership can be dissolved.

Establishing these business details at the beginning of a business relationship can help avoid disagreements in the future.

Many of these details can be decided between the partners before they approach a lawyer to finalize the agreement. However, creating a partnership agreement is a detailed legal process. You should have a lawyer help you create the agreement, or at least have a lawyer review the agreement before you sign it.

NEW Ontario Business Registry

Businesses can now complete over 90 transactions online through the new Ontario Business Registry. This includes:

  • register a new business name
  • renew an existing business name
  • dissolving an existing business
  • incorporate, dissolve and change a corporation or not-for-profit or charity
  • search for a business or not-for-profit corporation
  • file notices and other documents under other business law statutes

Currently, mailing or emailing documents is also still available.

Registering existing business: Existing businesses and not-for-profits who wish to access their profile or file documents using the Registry will require a Company Key. Businesses can submit a request for their company key at Ontario.ca/BusinessRegistry.

New businesses and not-for-profits should visit the Ontario Business Registry: all services page for instructions on how to create and register their new business.

Anyone can do a free search of the Ontario Business Registry to get basic information about a business or not-for-profit corporation.

Some offices closed

As a result of the launch of the new Registry, six service counters across Ontario will no longer endorse articles submitted under the Business Corporations Act. As well, the ServiceOntario counter at 375 University Avenue in Toronto has closed. Visit ServiceOntario for information on what offices are still open and what transactions can be completed in-person.

More info

More information about starting a business or forming a partnership in Ontario can be found from Government of Ontario, Business and Economy services, or the Federal Government’s Small Business Services.

Get legal help

For legal advice and assistance with forming a partnership, partnership agreements, or starting another form of business, and for other business issues, contact our preferred experts at Kalfa Law, or call them now at 1-800-631-7923.


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