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Partnership Presentation
Partnership Presentation
Presentation
Partnership
Do’s and
Don’ts
Partnership
Do’s and
Don’ts
What is Partnership?
Partnership
• A single business where two or
more persons share ownership
• By the contract of partnership two
or more persons bind themselves
to contribute money, property, or
industry to a common fund, with
the intention of dividing the profits
among themselves.
Partnership
• A partnership must have a lawful
object or purpose, and must be
established for the common
benefit or interest of the partners.
• Two or more persons may also
form a partnership for the exercise
of a profession.
Basic Features of a
Business Partnership
www.sba.gov/content/partnership#
General Partnerships
Partnership in which the parties carry
on all their trade and business,
whatever it may be, for the joint
benefit and profit of all the parties
concerned, whether the capital stock
be limited or not, or the
contributions thereto be equal or
unequal.
www.sba.gov/content/partnership#
Limited Partnerships
A partnership consisting of one or
more general partners, jointly and
severally responsible as ordinary
partners, and by whom the business is
conducted, and one or more special
partners, contributing in cash
payments a specific sum as capital to
the common stock, and who are not
liable for the debts of the partnership
beyond the fund so contributed.
Black’s Law Dictionary 4th Ed. Rev.
Other Types of Partnership
Partnership at Will
A partnership at will is one in which
no term of existence has been fixed
and which may be terminated at the
will of any partners.
www.sba.gov/content/partnership#
Kinds of Partners
Do’s and
Don’ts
Rights of a
Partner
Property Rights of a Partner
www.preservearticles.com/201101153418/rights-duties-and-liabilities-
of-partners.html
Duties
1. To carry on the business to the greatest
common advantage
2. To be just and faithful to each other
3. To render true accounts
4. To provide full information
Duties
5. To attend diligently to his duties
www.preservearticles.com/201101153418/rights-duties-and-liabilities-
of-partners.html
Partnership
Do’s and
Don’ts
How To
Make
Sure
Business
Will
Prosper
THINGS TO DO
www.doi.gov/partnerships/ethics-dos-and-donts.cfm
THINGS NOT TO DO
• Endorse the products or services of the
partner organization in your official
capacity.
• Solicit funds or donations for your
programs from partner organizations
without specific statutory authority to
solicit and to accept donations and gifts.
THINGS NOT TO DO
• Create an organization to do what your own
agency cannot do and then enter into a
partnership with it.
• Accept any compensation other than your
federal salary for official duty services you
provide to partner organizations unless that
compensation is from a Federal agency.
THINGS NOT TO DO
• Use appropriated money to pay for
lobbying activities to be performed by a
partner.
• Control or assume any measure of practical
responsibility for the fund raising activities
of private individuals or organizations that
are partners.
THINGS NOT TO DO
www.doi.gov/partnerships/ethics-dos-and-donts.cfm
4 Common Mistakes
www.businessinsider.com/taking-on-a-business-partner-dont-make-
these-4-common-mistakes-2010
4 Common Mistakes
Don’ts Do’s
Don’ts Do’s
Don’ts Do’s
Introduce a formal
Not stipulating how to method for making
make decisions or decisions and
resolve disputes addressing
disagreements
4 Common Mistakes
Don’ts Do’s
Do’s and
Don’ts
Famous Partnerships
Famous Partnerships
www.forbes.com/profile/lucio-and-susan-co/
Top 10 Partnerships
Famous Partnerships
1
Famous Partnerships
Company Google
Year Founded 1998
2
Famous Partnerships
3
Famous Partnerships
Company Twitter
Year Founded 2006
4
Famous Partnerships
Company Microsoft
Year Founded 2006
5
Famous Partnerships
Company Hewlett-Packard
Year Founded 1939
6
Famous Partnerships
7
Famous Partnerships
Company eBay
Year Founded 1995
8
Famous Partnerships
Company Intel
Year Founded 2006
9
Famous Partnerships
10
Famous Partnerships
Company Yahoo!
Year Founded 1995
I
That the names, surnames and postal addresses
of the partners of this partnership are as follows:
NAMES ADDRESSES
________________ ________________
________________ ________________
________________ ________________
II
That the name of this partnership shall be
__________ and shall transact business under said firm
name.
III
That the principal office of this partnership shall
be at __________, Philippines, which office may be
changed if necessary.
IV
That the capital of this partnership is _________
(P__________), Philippine Currency, which has been
contributed in equal share by us, this is (P__________),
Philippine Currency, by each one of us.
V
That the purpose or purposes for which this
partnership is organized are: _____________________
_____________________________________________
____________________________________________.
VI
That the term for which this partnership is to
exist is _________ years from the date of this contract.
VII
That this partnership shall be under the
management of __________, and as such manager he
shall have charge and supervision of the affairs of the
partnership; otherwise performing such acts as are
necessary and expedient to promote the lawful
purposes of the firm.
VIII
That the managing partner shall receive a
monthly compensation of __________ (P__________),
Philippine Currency.
IX
That the profits and losses of this partnership
shall be divided and distributed proportionately on the
ratio of the capital contribution of each partner.
IN WITNESS WHEREOF, we have hereunto set our
hands, this __________ day of __________, 20__, at
the __________ Philippines.
__________________ __________________
NOTARIAL ACKNOWLEDGMENT
CERTIFICATE OF PARTNERSHIP
NOTARIAL ACKNOWLEDGMENT
How to Register a
Partnership Business in the
Philippines
www.myoffice.com.ph/index.php/article/view/starting-a-partnership-
or-corporation-in-the-philippines
Securities and Exchange Commission
1. Verify and reserve the availability
of the company name with the SEC.
1 Day - PHP 40
SOURCES
www.sba.gov/content/partnership#
www.myoffice.com.ph
www.preservearticles.com
www.doi.gov/partnerships/ethics-dos-and-donts.cfm
www.forbes.com