Download Oklahoma Partnership Agreement Templates [PDF]

Set up your business in Oklahoma in no time by using our professionally crafted and customizable Oklahoma partnership agreement template.

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Oklahoma
Customized for OklahomaThis document may be legally binding in Oklahoma according to your state specific regulations.
  • Used times
  • Last reviewed at April 27th
partnership-agreement

The Oklahoma partnership agreement is a legal document made between two or more partners that provides details on initial investment, rights, and duties in the business partnership they are establishing.

In most cases, partnerships are established between partners that have different resources, like know-how, capital, or equipment, that can be joined together with the common goal of establishing a certain business.

The Oklahoma partnership agreement is also commonly referred to as:

Other Names for Oklahoma Purchase Agreement

  • Oklahoma partnership deed

  • Oklahoma partnership contract

  • Oklahoma articles of partnership

  • Oklahoma partnership deed

  • Oklahoma partnership contract

  • Oklahoma articles of partnership

Oklahoma Partnership Agreement Types

Here, you can find different partnership agreement types used in Oklahoma:

Types of Partnership Agreement

  • General Partnership (GP): Here, all partners are authorized to participate in a decision-making process. However, they all have unlimited liability for business operations with all of their personal assets. (§54-1-100 to §54-1-1207)

  • Limited Partnership (LP): This is the partnership between the general partners, who have unlimited liability for the business operations and are able to make decisions, and the limited partners, who are not able to make decisions but are not fully liable for the business operations. (§54-1-100 to §54-1-1207)

  • Limited Liability Partnership (LLP): Here, all partners equally participate in the decision-making process, and they are liable only for actions they have personally taken within the partnership. (§54-1-101(5))

Oklahoma Partnership Agreement Requirements

The Oklahoma partnership agreement format should include the following:

Mandatory Requirements

  • Full names and mailing addresses of the partners

  • Information about the date of establishment of the business partnership

  • Details about the initial contribution of each partner

  • Description of each partner's role in the partnership

  • Details about management or voting rights of each partner

  • Rules on how the profits will be distributed between the partners

  • Rules on how the eventual business losses will be covered

  • Details on how the partnership will eventually dissolve (optional)

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