Download Mississippi Partnership Agreement Templates [PDF]

Simplify the process of drafting the Mississippi partnership agreement by using our advanced and professional partnership agreement template.

Last update: 25 Dec 2023

Download Mississippi Partnership Agreement Templates [PDF]

The Mississippi partnership agreement is a legal document that serves as the formalization of the agreement between two or more partners to establish a business partnership.

This type of document usually includes details on what each partner will contribute to the business and determines their management, voting, and profit share rights based on it. Moreover, the document will include the overall details and rules of the business operation.

In Mississippi, the partnership agreement is also referred to as:

Partnership Agreement Synonyms

  • Mississippi partnership contract

  • Mississippi articles of partnership

  • Mississippi partnership deed

  • Mississippi business partnership agreement

Mississippi Partnership Agreement Types

In Mississippi, there are different types of partnership agreements that partners can choose from:

Types of Partnership Agreement

  • General Partnership (GP): Here, all partners can participate in the decision-making process. However, they all have unlimited liability for the business operation with all of their personal assets. (§ 79-13-101 to § 79-13-1206)

  • Limited Partnership (LP): This type of partnership agreement forms a partnership between the general partners, who have decision-making powers and have unlimited liability for the operation of the partnership, and the limited partners, who don’t have decision-making powers but have limited liability for the partnership. (§ 79-14-101 to § 79-14-1301)

  • Limited Liability Partnership (LLP): Here, all partners have equal decision-making powers, and they are not liable for the damages caused by the negligence and actions of other partners. (§ 79-13-1001 to § 79-13-1006)

Mississippi Partnership Agreement Requirements

The Mississippi partnership agreement format should include the following:

Mandatory Requirements

  • Names and mailing addresses of the partners

  • Information on what type of partnership is being established

  • Information about the date of establishment of the business partnership

  • Details about the contributions of each partner

  • Description of each partner's role in the partnership

  • Information about each partner’s management or voting rights

  • Details on how the profits are distributed between the partners

  • Rules on how the eventual business losses will be covered

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