This Record Company Partnership Agreement is an agreement that is used when two or more persons want to start a record label together. An agreement establishes the partnership as a business entity and sets forth the agreements of how the business will be governed by the partners. It includes terms such as the investment commitments by each partner into the business, the services to be rendered, establishing a managing partner, voting rights, income percentages, dissolution, etc. It is important to understand that by forming a partnership, you are forming a business entity that is governed by the state law where the partnership is formed. Consequently, there may be terms that are special to each state that would need to be included in the agreement. Most states do not require the registration of a partnership with the state unlike a corporation. However, it will be important to research what documentation is required to file with the state when creating a partnership or business entity for the state where the label is being set up. It will be necessary for a partnership to obtain an employer identification number (EIN) through the Internal Revenue Service to be used to identify it as a business entity for tax purposes. Before purchasing this agreement it would be important to do research or consult an accountant or an attorney to understand the legal ramifications of forming a business entity.

• Number of Pages: 10

• Have a question about this contract? Email Us