Partnership agreement of a general partnership and a limited partnership

Create the partnership agreement for your general partnership or limited partnership together with the other partners in writing. Compile the agreement before submitting the start-up notification to the Trade Register.

Contents of the partnership agreement depend on what your company does and how extensive its operations are. The partnership agreement should, however, include at least the following information:

• company name
• domicile in a Finnish municipality
• line of business 
• partners.

If your company is a limited partnership, the partnership agreement should also include the following information:

• who are the responsible partners and who are silent
• the amount in euro of the contribution made by the silent partners to your company.

You should make a sufficient number of copies of the partnership agreement: one for each partner and one to be attached to the start-up notification to the Trade Register. Remember to date the agreement. Make sure that all partners, including the silent ones of a limited partnership, sign the agreement.

You can find a template for the partnership agreement in the start-up package compiled by the Finnish Patent and Registration Office.

In the partnership agreement, you can agree on almost any issue involving your business.

In addition to the required information, you can enter information such as the following:

• who may enter into contracts on behalf of your company and represent your company
• how you will share the work, profits and losses
• what is the period of notice for the termination of the partnership agreement
• how partners can leave the partnership or how they may be dismissed
• how the company agreement can be changed
• how will your company be terminated when the time comes
• what happens if a partner dies.

Note, however, that the information included in the partnership agreement is public. Therefore, please consider carefully what to record in the agreement.

You may, where appropriate, draw up a separate partner agreement for your own use that is not public. In it, you can agree on the aforementioned issues as well as other practical matters concerning only you, such as a non-compete or the management of conflict situations.