Industrial Partnership Agreement Sample Philippines

At the request of one of the partners, the capital accounts of the partners shall be kept at all times in the proportion in which the partners contribute to the profits and losses of the company. A partner has certain rights to the partnership. He is therefore entitled to a specific partnership property in proportion to the profits of the partnership. As a partner, he has the right to participate in the management, to consult partnership books and can effectively require formal accounting. However, rights have obligations in this regard. Thus, a partner is required to contribute and participate in losses. 9. BOOKS. Partnership logs are kept at the partnership headquarters and each partner has access to them at all times.

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