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In most cases, the partners` contributions (time, resources and capital) to the company vary from partnership to partnership. While some partners provide seed capital, others may provide operational or management expertise. In both cases, the specific contributions must be indicated in the written agreement. Maybe your potential partner is a family member, a long-time friend, an investor, or a business partner. Whatever the relationship, the beginning of a partnership is like a young romance. Companies established as partnerships, legal entities where two or more people own and run a business, allow companies to benefit from the different knowledge, skills and resources of several owners. You want a very detailed agreement that leaves no shades of gray so that each party understands the terms and requirements.