Download Wyoming Partnership Agreement Templates [PDF]

Read this article and get familiar with our step-by-step process of drafting the Wyoming partnership agreement using our professional template.

Last update: 25 Jan 2024

Download Wyoming Partnership Agreement Templates [PDF]

The Wyoming partnership agreement is a legal document that outlines the essential details of the relationship between the partners within the business organization.

Partners often create the partnership agreement or partnership contract to minimize the possibility of any misunderstandings and disputes between them in the future since the document provides all crucial details about the business structure and operation.

This includes information about the partner's initial investment, management, voting, and profit-sharing rights, as well as responsibilities within the business partnership.

The Wyoming partnership agreement is also called the “partnership deed” or the “articles of partnership.”

Wyoming Partnership Agreement Types

In Wyoming, partners can choose between the various types of partnership agreements:

Types of Purchase Agreement

  • General Partnership (GP): Here, all partners are able to make decisions. However, they all have unlimited liability for the operations of the business entity with all of their personal assets. (Title 17, Chapter 14, Article 5)

  • Limited Partnership (LP): This is the partnership between one or more general partners, who can make decisions and have unlimited liability for the business operations, and one or more limited partners, who are not able to make decisions but have limited liability. (Title 17, Chapter 14, Article 3)

  • Limited Liability Partnership (LLP): With this type of partnership, all partners equally participate in the decision-making process. Moreover, they are all protected from liabilities caused by the actions of other partners. (Title 17, Chapter 21, Article 11)

Wyoming Partnership Agreement Requirements

In Wyoming, the partnership agreement format will include the following elements:

Mandatory Requirements

  • Information about the partners

  • Name and registered address of the partnership

  • Date of partnership establishment

  • Details about each partner’s initial investment in the partnership

  • Information about each partner’s management and voting rights

  • Rules on profit distribution

  • Information about the accounts of the partnership

  • Conditions that must be fulfilled before the eventual partnership expansion

  • Rules on how the partners will cover eventual losses

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