The partnership may be terminated by mutual agreement with the partners whose capital represents a majority stake in the partnership. A business partnership agreement is a legal document signed between two or more parties (“partners”) who wish to enter into an agreement as a single entity. This business unit – a partnership unit between the two or more people – acts as a legally recognized business entity. In a business partnership, each of the partners shares the company`s collective profits and losses. Traditionally, each partner is responsible, within the framework of a partnership, for all debts and obligations of the commercial partnership, but there are a number of modern legal acts that also offer limited liability partnerships, established with a sponsorship contract. Often, partners provide uneven resources at the beginning of the partnership.