From SBA.GOV Website:
Partnerships fail for many reasons. Misalignment of personality is possibly the first reason that springs to mind, but according to Michigan law firm Family & Aging Law Center , the two most common reasons that business partnerships fail is 1) failure to make an adequate plan, and 2) more importantly, from a legal perspective, failure to have a written partnership agreement that outlines in detail the partnership structure.
 
Why is the partnership agreement so important? Most partnership agreements are written up at the beginning of the business venture and outline …