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13 August, 22:02

In partnerships, when should partners determine how profits will be divided?

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  1. 13 August, 22:30
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    I believe the answer is: When setting up the business

    When setting up the businesses, each partners would has to sign the documents signifying the percentage of ownership that they have in the business and how the profit is split every year of operation. This document is legally binding, meaning that the partners would not be able to get out from their rights and obligation without facing legal consequences.
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