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QUESTION: What is a co-ownership agreement and do I need it when forming a partnership?

TOPIC: Legal Information

ANSWER

Answer by Albert Luk

A co-ownership agreement sets out each party's respective rights and obligations if you and your partner decide to part ways. This agreement can also prevent departing partners from stealing trade secrets and clients. If you have partners, a co-ownership agreement can protect your business from the stresses of ownership disputes

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